10 Things About Selling Distressed Properties
Many acquisitions of distressed real estate have occurred during the past 18 months. For those who have acquired such properties, whether through purchases, foreclosure, deed in lieu or by other means and are now contemplating selling, the sale will likely involve a number of issues that may be new to even the most experienced of sellers.
In addition, there are issues that may be customarily and routinely dealt with in a "typical" sale of real property but that may warrant particular attention from a seller of distressed property.
This article discusses 10 key issues that sellers of distressed properties need to consider. They apply primarily to REO or other institutional acquirers of these properties, rather than to individual owners, to whom short-sales and other common dispositions of these properties may be more appropriate.