Buying a Santa Clarita REO property can be present a great opportunity for a primary residence or an investment property. As with purchasing any distressed property, arming yourself with knowledge is key to a successful transaction. An REO property is a property that has already been foreclosed upon and is owned by the lender, often being offered for sale at below market value.
Things to know about buying an REO property in Santa Clarita:
- Those selling REO property do not need to provide buyers with disclosures, which means there could be a slew of issues with a Santa Clarita property that you won’t know about until it is too late.
- The Santa Clarita real estate being bought could have months worth of unpaid association fees that the new buyer will be responsible for.
- Research is essential. If a home inspection is possible, have one completed. Likewise, if there is a management company or association involved contact them and find out what they might know about the Santa Clarita property that you are interested in.
It is important to do your homework when buying an REO property in the Santa Clarita Valley. Contact us today to learn more about the REO process and let us share our knowledge with you.
Contact us at Remax Santa Clarita today to learn more about Santa Clarita real estate, as well as to have free access to the Santa Clarita MLS and all Santa Clarita properties that are currently listed for sale.