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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$215,300 - 3Br/2Ba -  for Sale in Riverside
$215,300
New
MLS# IV20244027

3707 Pioneer Drive
Riverside, CA 92509

Property Type: Townhome
Offered by: REALHOME SERVICES & SOLUTIONS
$171,000 - 2Br/2Ba -  for Sale in San Jacinto
$171,000
MLS# SW20105120

1339 Van Buren Circle
San Jacinto, CA 92583

Property Type: Attached
Offered by: Main Street Realty
$170,000 - 3Br/2Ba -  for Sale in Jacumba, Jacumba
$170,000
MLS# 200046585

44672 El Centro Ave
Jacumba, CA 91934

Property Type: Detached
Offered by: Assistance Real Estate, Inc.
$160,000 - 2Br/2Ba -  for Sale in Ivey Ranch Country Club, Thousand Palms
$160,000
MLS# PW20228589

74636 Gaucho Way
Thousand Palms, CA 92276

Property Type: Detached
Offered by: California Housing Store
$139,900 - 3Br/2Ba -  for Sale in Blythe
$139,900
MLS# SB20197738

460 W Montezuma Street
Blythe, CA 92225

Property Type: Detached
Offered by: Mike McAndrew
$49,900 - 3Br/2Ba -  for Sale in Hemet
$49,900
MLS# EV20008492

1250 N Kirby 44
Hemet, CA 92545

Property Type: Manufactured Home
Offered by: OAK VALLEY REALTY