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.