When buying a distressed property you will likely will be dealing with a motivated seller and or bank. With recent market changes, many of these properties are selling quickly, as many investors and buyers are taking advantages of today’s incredible rates.
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For the most part listing agents (representing the bank or seller) are interested in having these homes off the market so they can begin the negotiation stage. There are times that you are able to purchase homes slightly below the market rate depending on strategy. Knowing whether or not a home in a certain area is located in an area where value retention is viable is something we can help you asses.

 

How do I know if I am a Distressed Seller?

At Skoglin Real Estate, we have assisted more than 90 clients in the most recent years with finding ways to create the best solutions for them. Having completed CDPE (Certified Distressed Property Expert) certification we are able to use our level of education and awareness of today’s “distressed market” to ease our clients worries with results. We create options for our sellers that may be in default (missed payments) or those that are facing challenges for them to stay in their home. There are various options through loan modifications and legal consulting that will help figure out what is the best path for your future. As always this information is always private and we pride ourselves to use upmost discretion. We understand that jobs transfers, illness, income changes and other factors are constantly issues that come up for our neighbors, friends and family and we are here to assist in figuring out what is truly the best next step.

 

Disadvantages of Purchasing a Distressed Property

Usually most assume that buying a distressed home you are going to get a great deal! That is not always the case. With inventory being so low, the San Diego market is changing. One of the biggest issues with buying a distressed home is the sale process. It’s sometimes not clear which lending institution actually owns a mortgage loan, and it can take time to get the bank to approve the sale. For the most part, homes in San Diego are in maintained condition, however, at times bank owned or foreclosed properties can be deemed “fixers”. For a list of all the active distressed homes for sale in San Diego please use our search icon below to browse. To find out more about how our experience representing distressed sellers and those buyers interested in learning more, please contact us.

 

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$10,500,000 - 5Br/8Ba -  for Sale in Newport Coast
$10,500,000
MLS# OC20078847

7 Shoreridge
Newport Coast, CA 92657

Property Type: Detached
Offered by: Fortune Weavers Realty Inc.
$8,000,000 - 5Br/8Ba -  for Sale in Newport Coast
$8,000,000
MLS# OC20204748

21 Skyridge
Newport Coast, CA 92657

Property Type: Detached
Offered by: Vylla Home, Inc.
$4,750,000 - 4Br/8Ba -  for Sale in La Jolla Heights, La Jolla
$4,750,000
MLS# 200054190

7930 Costebelle Way
La Jolla, CA 92037

Property Type: Detached
Offered by: eXp Realty of California Inc
$3,500,000 - 4Br/5Ba -  for Sale in La Playa, San Diego
$3,500,000
MLS# 200054892

3115 Owen
San Diego, CA 92106

Property Type: Detached
Offered by: Robert Realty
$2,799,900 - 5Br/6Ba -  for Sale in Newport Beach
$2,799,900
MLS# OC20237643

508 Westminster Avenue
Newport Beach, CA 92663

Property Type: Detached
Offered by: Berkshire Hathaway HomeService
$2,500,000 - 3Br/4Ba -  for Sale in Valley Center, Valley Center
$2,500,000
MLS# 200036186

16390 Dia Del Sol
Valley Center, CA 92082

Property Type: Detached
Offered by: Flagship Real Estate Group
$2,300,000 - 4Br/4Ba -  for Sale in Point Loma Heights, San Diego
$2,300,000
MLS# 200054335

4460 Del Mar Avenue
San Diego, CA 92107

Property Type: Detached
Offered by: Pacific Western Realty
$2,250,000 - 4Br/4Ba -  for Sale in Laguna Beach
$2,250,000
MLS# LG19177900

2856 Terry Road
Laguna Beach, CA 92651

Property Type: Detached
Offered by: Coldwell Banker Realty
$2,159,000 - 2Br/2Ba -  for Sale in Solana Beach
$2,159,000
New
MLS# NDP2100339

769 Beach Front Drive A
Solana Beach, CA 92075

Property Type: Attached
Offered by: Dave Stubbs Real Estate, Inc
$1,649,000 - 6Br/7Ba -  for Sale in Riverside
$1,649,000
MLS# IV20150883

7300 Chateau Ridge Lane
Riverside, CA 92506

Property Type: Detached
Offered by: Colonial Realty Group
$1,600,000 - 2Br/2Ba -  for Sale in Fallbrook, Bonsall, San Diego, Fallbrook
$1,600,000
MLS# NDP2002407

Via Monserate
Fallbrook, CA 92003

Property Type: Detached
Offered by: ERA Ranch & Sea Realty
$1,499,000 - 5Br/6Ba -  for Sale in Fallbrook
$1,499,000
MLS# OC20063116

3991 Wendi Court
Fallbrook, CA 92028

Property Type: Detached
Offered by: Dalton Real Estate