(Discover Hidden Gems by Avoiding Potential Pitfalls and
Fraudulent Websites.)
Submitted by: John Lee
WorldWideReviews
http://moneyemployment.worldwidereviews.com/SeizedRealEstate-GovB
ankProperties.htm
Seized Property for 90% off Market Value? Recent popularityIn the last year buying bank and government seized properties
has become very popular. This is because people have discovered
that they can purchase any type of real estate: affordable
homes, single-family homes, multi-unit houses,
apartments/townhouses, commercial properties, mobile homes,
land, timeshares, vacation and rental properties at greatly
discounted prices ... property listings as much as 90% off the
market value.
Why so cheap?A seized property is a home or property that has been
repossessed by the lender because the owners failed to pay the
mortgage - this is called foreclosure. A home or property can
also be seized by the government due to illegal activities or
tax evasion. Hundreds of thousands of properties are seized
every year.
Because of the constant influx of new seized properties and the
enormous amount of money and time required to maintain and
market them, the banks and government attempt to recover at
least some of the money by conducting public seized property
auctions. Bank and government homes and properties are purchased
here for as much as 90% off their market value.
Real estate's little secretNot many people attend these auctions because they are not well
advertised. There's a reason for this. Since the profits will
already be small, the banks and government will not spend much
money on advertisement ... maybe only a small ad in the local
newspaper. This means attendance is small, so those who do
attend have a great opportunity to purchase bank and government
homes and properties at bargain costs by sheer lack of
competition.
Properties at you fingertips2004 saw entire networks spring up solely to administer these
seized property listings. Members can now perform online
searches for bargain properties in any part of the country. The
better services allow someone to search by city or ZIP code, and
include photo and detailed descriptions in the search results.
Fraudulent websitesUnfortunately, as with any innovative idea come the scammers.
Hundreds of "bank property listings" and "government property
listings" websites have popped up, claiming to offer direct
access to networks where people can purchase these properties.
Most charge $50-$75 dollars to browse their listings. But once a
customer pays the membership fee they find:
1. Outdated Listings 2. Non-Working Pages 3. Non-Intuitive
Navigation 4. Zero Support or Customer Service
Someone looking to join a website might even find themselves
being offered the opportunity to access the "premium homes and
property listings" by becoming an "elite" member of this
particular service for just $50 more. There are many instances
where the websites appeared to exist just to take a consumer's
money. In many cases people aren't even able to contact anyone
from the sites.
Yes, you can purchase homes at a 90% discount.If you can stay away from the SCAM websites, it is possible to
purchase perfectly nice ... even stunning, homes and properties
by accessing these networks of seized property listings. For
anyone looking to join a seized property network website to
purchase a home or invest in real estate, be sure that it meets
these minimum requirements:
* Network spans all 50 states.
* Listings are fully searchable by city and zip.
* Listings include photograph and description.
* Listings are updated daily.
* Customer service available via phone or email.
For more information or resources pertaining to this
article, please visit WorldWideReviews Government/Bank Property
Auctions at
http://moneyemployment.worldwidereviews.com/SeizedRealEstate-GovB
ankProperties.htm Copyright © by John Lee
malto:Staff@WORLDWIDEREVIEWS.COM
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John Lee is owner and publisher of the acclaimed
consumer reporting website WorldWideReviews.
A free product review and watchdog service.
Real Estate Auctions
http://moneyemployment.worldwidereviews.com/SeizedRealEstate-GovB
ankProperties.htm
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