At the Realty Exchange we not only offer the very best deals for investment properties in Bloomington, but we also can supply clients with a list of foreclosure and short sale listings that can provide quite the bargain.
Foreclosure investment properties in Bloomington and elsewhere in Minnesota have become all the rage to those that are looking for a great deal. REO properties or ‘Real-Estate Owned’ properties are deeds that the bank now holds in its hands, and are dying to recoup some of the money that was lost to that lender. This is a great opportunity for buyers to cash in on the savings that investment properties in Bloomington can provide.
Some things to consider when looking to buy bank owned investment properties in Bloomington :
- Cost of repairs: More often than not most foreclosure properties have fallen into disrepair because of insufficient funds of the previous homeowner. It isn’t a deal breaker but should be taken into consideration during negotiations.
- Location: Remember to take a look at the surrounding homes or properties in the immediate area. If there are hand-fulls of short sales and foreclosed properties in that area, it may be best to look elsewhere and consult your broker for further information.
- Ask the bank: You as an investor or home buyer are more than within your right to ask the bank to make repairs to sweeten the deal. Most banks are eager to get these ‘notes’ off of the books and sold. You are in a great position to negotiate. Go for the gold!
Remember that when you’re buying an investment property in Bloomington it is best to be outfitted with a well informed broker. They can be the liaison between the bank and yourself, and minimize your stress level during the buying process. Realty Exchange is experienced in the process and can make it a breeze to find the home you are looking for at a competitive price.
Realty Exchange also offers a comprehensive MLS Search engine for clients that would like to peruse a list of investment properties in Bloomington MN that are turnkey and need zero repairs. Keep in mind that just because a property needs repairs doesn’t mean it is a tear down. Most of the REO listings can be repaired and renovated at the bank’s expense and to no cost of the buyer.
Visit Realty Exchange today to harness the power of our firm and turn our knowledge of the market into money in your pocket!