Looking for a foreclosure near Newark, DE? Michael has
specialized in Newark, Delaware foreclosures (REOs) since the early '90s. Michael entered
the real estate business shortly after graduating from the University of Delaware.
Just a few years after entering real estate Michael shifted
his focus away from the typical resale market and towards Newark area foreclosures. Seasoned investors as well as
owner occupants have benefited over the years by working with Michael. Bank-owned houses are a
great investment for students as well. Why pay rent when your University roommates can pay it for you?
Having been personally involved in construction(rehab) as well as marketing, Michael possesses the insight and expertise to guide buyers through the foreclosure purchasing process. Although some bank-owned homes are in need of repair, many buyers will qualify to borrow the money needed to fix up the house. Buyers looking for a Newark area bank-owned home to occupy can put down as little as 3% while investors can borrow up to 90%.
REO houses can be seperated into multiple groups. Each group sets its own guidelines which a buyer must meet in order to purchase a home. Buying a foreclosure(REO) is not the same as buying other homes. If you are considering the purchase of a foreclosure, work with a specialist. Note: Short Sales are yet another category with unique issues.
City of Newark
Kennett Square West Chester