Let me give you a little tour of a South Sacramento bank-owned property. Why do foreclosures often sell for less? Beyond any stigma for being “bank-owned” and banks pricing these properties to move quickly, there is a very obvious reason why these REOs sell for less. They’re often not in very good condition – at all.
This is a very typical foreclosure scenario, so it’s no wonder why arms-length sales are usually not comparable and tend to sell for more. They’re usually in better condition and they come without a “distressed” nature.
By the way, what do you think of the bathroom. Is that mold? What is it?
My client did give me permission to share this video, by the way. If you have any questions, let me know. Give me a call at 916.595.3575, shoot me an email, or catch me on Facebook.