How to Purchase Maui REO Properties
REO- is an acronym for Real Estate Owned Properties... properties that are owned by banks and mortgage holders. These properties have reverted to bank ownership after the conclusion of the foreclosure process. These "REO" or bank owned properties are put back on to the active real estate market for sale... usually at a substantial discount over the property's previous selling price... and at a price that is lower than many other nearby properties.
Today’s real estate market conditions, with the current multiple buyer choices, historically low interest rates and some of the best pricing in over a decade, should have you asking, “Am I living where I would like to be?”
Are you? If not, why wait?
There are many options out in today’s market, including traditional sales, short sales and Bank REO properties. An “REO” (Real Estate Owned) is a class or property owned by a lender — typically a bank, government agency, or government loan insurer — after an unsuccessful sale at a foreclosure auction.
A foreclosing beneficiary will typically set the opening bid at a foreclosure auction for at least the outstanding loan amount. If there are no bidders that are interested, then the beneficiary will legally repossess the property. As soon as the beneficiary repossesses the property, it is listed on their books as REO and categorized as an asset (non-performing).
Greg Smith, real estate broker at Prudential Maui Realtors, is here to help you with whatever your Maui real estate needs are. I do answer my phone and return calls when the sun is up (except Sunday morning). Give me a call at (808) 357-4782 (cell) or e-mail Greg@4MauiRE.com. The market is turning quickly! Properly priced inventory is being consumed, and prices are starting to steady. Please call today.
Greg Smith ® Maui's premier Bank Owned Foreclosure Real Estate Broker for direct REO properties from Chase, Washington Mutual, Litton, Aurora, American Home Mortgage Servicing Inc, Saxon, Bank of America, Countrywide and many other direct bank sources. For Foreclosed Maui Homes and your chance to see pre-marketing foreclosure homes in Hawaii call me today. Maui Foreclosures is my specialty. I work directly with the banks to bring Bank Owned Homes in Maui to market and sell REO properties.
Greg Smith Realtor- Broker
Prudential Maui REALTORS
REO Specialist
(808) 357-4782
Short Sales and Foreclosure Resource-SFR
Designed for real estate professionals at all experience levels,Short Sales and Foreclosure Resource certification, or SFR for short, gives you a framework for understanding how to:
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Direct distressed sellers to finance, tax, and legal professionals
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Qualify sellers for short sales
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Develop a short-sale package
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Negotiate with lenders
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Tap into buyer demand
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Safeguard your commission
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Limit risk
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Protect buyers
Accredited Buyer Representatives – ABR
The Accredited Buyer’s Representative (ABR®) designation is designed for real estate buyer agents who focus on working directly with buyer-clients
Resort and Second Home Property Specialists – RSPS
As National association of REALTORS Designated "Resort and Second Home Property Specialists", I can also connect you with the best agents in any Resort Market in the country who will guide you through the process of purchasing a REO home or vacation condo in their area.
Certification for Internet Professionalism – E-Pro
The e-PRO® Certification Course is an educational program unlike any other professional certification or designation course available. It is the only technology certification course offered by the NATIONAL ASSOCIATION of REALTORS®.
DocuSign- Member
DocuSign's eSignature technology has allowed me to stay ahead of the competition and position myself as an advanced real estate broker. Allowing my clients the easy of handling a transaction from initial offer to closing with no printing, no paper, no faxes and no software to install.