Robertsdale, Al Luxury Vacation Homes

Real Estate Owned (REO) by banks offer some of the best deals for home and condo buyers

. These properties vary in price and size from luxury vacation homes to government-owned condo deals to estate homes and Fannie Mae foreclosures. You can find single-family homes, two on a lot, or even multi-unit complexes.

One of the easiest ways to make a profit in foreclosures is to buy a fixer-upper home and do much of the work yourself, such as painting, and hire quality contractors or handymen to do what you are not able to do well on your own. With the state of the economy as it is, hiring quality work at a reasonable price should not be too hard to find if you search with diligence and perseverance. One thing that most beginning real estate investors forget to do, though, is to research the market to see what the home will realistically sell for when it's fixed up. And you must also not forget to take an honest assessment of the condition of the home by inspecting it yourself or by hiring a professional home inspector to crawl in the attic, turn on every appliance, check the foundation, etc.

When you have an honest evaluation of the condition of the home, then you need to seek honest appraisals of how much the repairs will cost in material and labor. Don't forget to include the costs of selling the property, such as escrow fees, agent commission, and whatever amount you will give to the buyer as an incentive, in the calculation of your expenses. If you don't get some good deals on commissions and fees, you could pay around 10% of the final purchase price just to sell the property.

If you want to buy a home for yourself and your family to live in, then you might pay a littler more than a fixer-upper, but you will still pay less than the market price. It is not uncommon for banks to sell an REO condo or home like everyone else does by using a real estate agent rather than selling it on their own. It can be very time-consuming to rummage through the newspapers looking for foreclosure notices and it can be expensive to pay for high-cost exclusive listing services.

But if you are trying to save money and time in the REO search process, then you will be very interested to learn about a free foreclosure listing service that provides daily downloads of bank-owned properties in your area. This free listing includes the most recent REO properties/foreclosure listings in Baldwin County and at no obligation to you.

This is how the service works:

Every day, you will receive a FREE report listing of the best-buy foreclosure properties in Baldwin County. There is no cost for this information, and absolutely no obligation. The listings are presented for you in format that is easy to understand.

You will gain a great advantage over other buyers in the county with this insider information.

by: Tami Roberts

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