Buying Distressed Homes In Southern Arizona

 

The highest number of properties sold as a foreclosure in the Santa Cruz County, AZ market peaked in 2012 and since then bank owned properties have declined year after year due to property values rising and a less fragile economy. The main reason to buy a distressed property is the price. In most cases, a foreclosure or short sale will be priced below market value because the sellers are in a hurry to complete a sale and because they don't want to spend the money to repair a property in order to bring a higher price.

 

Prospective homebuyers are always looking for a bargain price. In most cases when a property can be bought for a low price there’s a reason. A foreclosure or a short sale will most likely be marketed and sold AS-IS. Seller and Buyer agree that the premises are being sold in its existing condition and seller makes no warranty to buyer, either express or implied. 

 

 

A home selling in AS-IS condition means that the property owner is not going to repair anything on the property before the sale. However, the buyer does not relinquish the right to do all home inspections to determine how much money it is going to take to fix up the home.