UtahCribs Weblog

Real Estate, Homes, News, Statistics and more

BANK REPO’s

Posted by UtahCribs, Real Estate, Homes on January 12, 2009

This should make all of you HAPPY!  All I hear is, “Jake are there any good BANK DEALS?”

So let me answer your question?

# 1 There are 8 law firms in Utah that handle ALL the foreclosures sales for the state

# 2 once a “bank home” goes for sale on the MLS it is ALREADY owned by the bank and the bank is trying to sell it (meaning……the bank is the owner and the house has already been REPOSSESSED).

# 3 to get the house BEFORE it goes on the MLS OR to sometimes get the best deal you have 2 options:

A. Buy it as a SHORT SALE from the Owner (who is getting foreclosed on).  You must negotiated with ALL lien holds in this situation or I can do this for you for FREE (bank pays me)).

B. Buy it at the COUNTY STEPS on the Day OF Foreclosure!

For those of you interested I can send you all the short sales on the market with a click of a button.

For those on you interested I have gone through ALL 8 law firms and ALL the foreclosures that are going to the county steps in the next 8 weeks and I have picked my favorite houses (the best deals).  FOR THOSE OF YOU INTERESTED IN THESE HOMES AND THE COURT SALE DATES AND LOCATIONS PLEASE E-MAIL ME AND I WILL SEND YOU MY LIST.

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4 Responses to “BANK REPO’s”

  1. Brad Miles said

    Good post Jake. A lot of my clients get the terms “short sale” and “bank owned” confused and interchange the two when talking about real estate, and technically this isn’t correct. A short sale is still owned by the seller but they get behind in their payments and due to the market conditions cannot sell for what is owed, so the bank takes a “short” on the deal. Bank owned simply means the bank decided to foreclose on it and is now the sole owner and can do as they please with it.

    Both short sales and bank owned properties have the potential to be great deals. Short sales do take more time to go through the approval process, but you’ll be happy if you can sucessfully navigate your way through it. Don’t hesitate to call one of us if you have any questions about these deals because we have worked on five or six deals like this the past couple of months and would love to help you.

  2. Pissed Pete said

    What a load of crap. Real Estate brokers all act like they add value when all they are looking to do is extract value. NOTHING if “free” and the money comes from someone. If the bank pays you shitheads for “negotiating” on your behalf, they would have knocked down the price even more. C’mon people. Same crap from the idiots that helped create the bubble with their hype.

    • Really Pissed Pete? I am glad you are reading our blog for free. Please explain to me HOW I get paid if I give you a free list of county step foreclosures that you can go bid on? The bank does not pay me. IF I list a bank home for the bank I get paid. If I bring the buyer on a LISTED bank home I get paid. If I do a lot of research about county step foreclosure and I provide it to the public for free……that’s called give you my expertise for FREE in hopes that people like the info and use me for future other real estate transactions. It’s called Marketing for those of us who attended higher education.

      We are happy to have anyone read our blog and use our information. We are experts in the market and provide our friends, family and clientele with the best info we can. So if you are going to comment about what we write, please…..know what you are talking about.

      Thanks!! Jake Breen MBA– Associate Broker Prudential Utah Real Estate

  3. Jake,

    Hi.

    I’m interested in a list of short sales, foreclosures, repos and any other goodies you may have. I currently live in Northern Idaho but am looking to move BACK to SLC. I’ll even consider southern Davis county.

    Thanks in advance.

    Jordeane Dent

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