Foreclosure Flipping Sedona AZ

In terms of mechanics, foreclosure flipping is very similar to regular property flipping. However, there is added risk when dealing with foreclosure flipping because there is often a heightened probability of unforeseen problems that have been cosmetically repaired and possibly hidden trust deeds that encumber a property. In addition, people who lose their homes to foreclosure sometimes do damage to a property out of frustration at having lost their home.

Gary W Kazragis
(928) 282-3645
150 DRY CREEK RD
SEDONA, AZ
Specialties
Personal Injury, Commercial, Real Estate, Family, Divorce
Education
University of Dayton,University of Iowa
State Licensing
Arizona

Linda Bagley Wallace
1785 W HIGHWAY 89A STE 2I
SEDONA, AZ
Specialties
Business, Contracts, Real Estate, Construction, Landlord & Tenant
Education
Rogers College of Law at the University of Arizona,University of Arizona
State Licensing
Arizona

Lonnie K McDowell
(928) 649-8609
850 Cove Parkway, Suite A
Cottonwood, AZ
Specialties
Chapter 13, Chapter 7, Corporate, Copyright Application, Debt Collection, Estate Planning, Probate, Trademark Infringement, Trademark Application, Trusts, Wills, Landlord & Tenant, Real Estate
Education
U OF A,Brigham Young University,Brigham Young University
State Licensing
Arizona

Gary W. Kazragis
(928) 282-3645
2030 West Highway 89A, Suite A-1, P.O. Box 3990
Sedona, AZ
 
Marc D McCain
(602) 604-2138
901 W MCDOWELL RD
PHOENIX, AZ
Specialties
Landlord & Tenant, Corporate, Contracts, Personal Injury, Real Estate
Education
Arizona State University College of Law,Arizona State University
State Licensing
Arizona

James N Bradley
1785 W HIGHWAY 89A STE 2I
SEDONA, AZ
Specialties
Business, Contracts, Real Estate, Construction, Landlord & Tenant
Education
University of Missouri, Columbia,University of Missouri, Kansas City
State Licensing
Arizona

Stephen A Thompson
No street address
Cottonwood, AZ
Specialties
Real Estate, Estate Planning, Probate, Business, Corporate
Education
California Western School of Law,University of San Diego School of Law,University of Arizona
State Licensing
Arizona

Frederick M Aspey
No street address
Cottonwood, AZ
Specialties
Business, Construction, Real Estate, Commercial
Education
Arizona State University,Northern Arizona University
State Licensing
Arizona

Virginia I. Duncan
(928) 282-4117
849 Cove Parkway, Suite B, P.O. Box 3819
Cottonwood, AZ
 
Dustin C Jones
(602) 288-7895
2525 E CAMELBACK RD
PHOENIX, AZ
Specialties
Land Use & Zoning, State, Local And Municipal Law, Real Estate
Education
U OF A
State Licensing
Arizona

Foreclosure Flipping

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In terms of mechanics, foreclosure flipping is very similar to regular property flipping. However, there is added risk when dealing with foreclosure flipping because there is often a heightened probability of unforeseen problems that have been cosmetically repaired and possibly hidden trust deeds that encumber a property. In addition, people who lose their homes to foreclosure sometimes do damage to a property out of frustration at having lost their home.

Buyers need to be particularly aware that fixes to the property could be cosmetic in nature where mechanical or structural problems could be present. These problems tend to show up after the home has closed escrow and the seller of the flipped property has moved on to another area, possibly out of state. In those circumstances, it is highly probable that the buyer will not be able to re-coup the losses they sustained. The key message is to know what you are getting into in terms of value, risk and unseen problems that property inspectors may uncover. Get the third party information you need about market values and risks.

Pre-foreclosure flippers identify properties targeted for foreclosure usually because of a Notice of Default (on payments) that has been filed by a lender, due to non-payment of the mortgage. They want to be involved early in the foreclosure process because they want a "good deal" and do not want a real estate agent involved, usually because of the added commission expense.

They generally offer the minimum amount possible to a distressed seller to get them out of the property. The offer will generally be just enough to get them out of the property (to protect their credit rating) and perhaps a few more thousand dollars so they leave the property with something. The market value of the property may be, and often is, considerably more than the pre-foreclosure flippers will offer. They understand the sellers in this situation are often desperate and they take advantage of that situation. Their objective is profit and their goal is to buy the home with minimal up front expenses.

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