Looking for a foreclosure around Newark? Michael has specialized in
Newark area foreclosures (REOs) since the early 90s. Michael entered the real
estate business after graduating from the University of Delaware. Seasoned investors
as well as owner occupants have benefitted 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 rehabs 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 repairs, buyers may borrow the money needed to both buy and fix up the house. Buyers looking for a Newark area bank-owned home to occupy can put down as little as 3.5% while investors can borrow up to 90%.
REO houses can be seperated into multiple groups. Each group establishes 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.