Reno, Nevada is an exceptional residential and vacation destination, offering a strong infrastructure, numerous attractive communities and a high quality of life. While distressed properties are an unfortunate sign for homeowners, the market of foreclosed homes in Reno, NV can be an advantageous opportunity for enterprising homebuyers and investors. This type of real estate, recovered from distressed homeowners and sold at impressive discounts by lenders, presents a rare chance to stretch your dollar and invest in a caliber of home that may have seemed previously out of reach. However, a foreclosure also comes with complexities, limitations, and challenges that are best managed by a seasoned real estate team such as The SallanHarrison Team.
What is a foreclosure? This type of real estate, recovered from distressed homeowners and sold at impressive discounts by lenders, presents a rare chance to stretch your dollar and invest in a caliber of home that may have seemed previously out of reach. However, a foreclosure also comes with complexities, limitations, and challenges that are best managed by a seasoned real estate team such as The SallanHarrison Team.
Beautiful Custom Home On Over 2 Acres. 4 Bedrooms, 4 1/2 Bedrooms, Home Office, Game Room And Bonus Room. Bring Your Large Family And Your Buyers Who Love To Entertain. Perfectly Landscaped. In Ground Pool, Outdoor Fireplace, Built In Bbq, Room Fo... Harcourts NV1 Realty
Custom Executive Home Exquisitely Built With No Hoa. The Manzanita West Area Home Offers Single Level Living, Formal Dining And Living Rooms Extra Large Laundry Area And City Views. This Home Has A Separate Office In The Front With A Full Bath Att... Greathouse Real Estate
Custom Executive Home On A Corner Lot In Castle Ridge Of Caughlin Ranch With Extensive Mature Landscaping, Private Fenced Backyard, And Oversized 3 Car Garage. The Main Level Features An Elegant Foyer, Private Office, Formal Living/dining, And A ... Dickson Realty - Caughlin
Well Maintained Pebble Creek Home With Heated Rv Garage With Bathroom And Rv Dump. Hot And Cold Water Available In All Garages. Gorgeous Landscaping Including Covered Pergola, Numerous Pavers, Mature Trees, And Dog Run. Desired Open Floor Plan Wi... Haute Properties NV
Large 5 Bedroom Home With A Large In-ground Pool. Huge Yard With Concrete Patio For Entertaining Throughout The Summer. Rv Parking And Plenty Of Room For All The Toys. Open Great Room And Kitchen With Plentiful Cabinets And Counter Space. Backs To... Ferrari-Lund R.E. Sparks
Wonderful Quiet Neighborhood With Tree Lined Sidewalks. This Home Has Been Well Cared For With Large Living Room/dining Room Entrance That Leads To Great Room That Has Kitchen With Tiled Counter Tops, Floor And Backsplash. Pantry, Breakfast Bar A... Ferrari-Lund Real Estate South
Newly Remodeled Interior! This Beautiful Home In The Foothills At Wingfield Features A Lovely Fireplace In The Living Room And A Nice Sized Kitchen. All Bedrooms Are On The Second Floor Creating A Separation From Common Areas And Making This Home ... Reno/Tahoe Realty Group, LLC
Beautiful Home Located In The Cross Timbers Association. With A Nice Flowing Floorplan, This 3 Bed/2 And A Half Bath Home Provides A Comfortable Space For Entertaining And More. As You Enter, You're Welcomed By The High Ceilings Of The Living Room... Reno/Tahoe Realty Group, LLC
This Property Is Being Sold "as-is", Subject To Known And Unknown Conditions. Buyer Is To Satisfy Himself As To Property Value And Conditions. Property Has Been Through Multiple Renovations And Remodeled. This Property Is Being Listed As A Short... Krch Realty
Come And See This Fantastic Wingfield Springs Opportunity. Home Is Located In A Quiet And Peaceful Neighborhood. Located Minutes From Shopping, Parks, Walking Trails, And More. This Contemporary And Popular Floor Plan Features A Large Kitchen, A ... RE/MAX Professionals-Sparks
Foreclosures occur when distressed homeowners are unable to keep up with mortgage payments and eventually default on their loan. Their home is subsequently foreclosed upon, repossessed by their lender and then put up for auction. Buyers working with distressed property specialists can find all manner of properties, even highly sought after luxury real estate, for discounted prices that can go as low as the outstanding mortgage. However, there are limitations associated with foreclosed homes in Reno, NV, such as not being able to inspect the property beforehand as well as having to purchase it in cash and in full.
How to Purchase Foreclosures in Reno, NV
There are many complexities associated with purchasing foreclosed homes for sale in Reno, NV, and thus choosing the one that meets both your short and long-term objectives can be a challenge. A resource such as an experienced Reno area Realtor will help navigate the distressed property market, identify the homes with the most potential, avoid common missteps, and ensure that every aspect of the investment is completed without a hitch.
What is a Short Sale?
The term short sale is used in the real estate business when there is more debt owed on the property than the property is worth.
In a short sale, the owner can’t sell their property unless creditors (third parties) agree to accept a pay-off that is less (or short) of the amounts that are actually owned to those third parties. Examples of third parties are mortgage lenders, mortgage insurers, bankruptcy trustees and federal, state and local tax authorities (such as the IRS or state tax commission). But not all creditors will accept a short sale or discounted payoffs, especially if it would make more financial sense to foreclose. Furthermore, not all properties nor all sellers qualify for a short sale.
If you are a seller facing a short sale, there are many important things to consider. We are experienced short sale agents who would be honored to help guide you through the process. We highly recommend you seek the advice of legal and accounting professionals as part of your process for determining your best course of action.
We recommend you speak to credit counselor as part of the process of considering selling your house short? They can assist in coming up with a plan to possibly keep you in your home.
The data relating to real estate for sale on this web site comes in part from the BROKER RECIPROCITY Program of the Northern Nevada Regional MLS. Real estate listings held by brokerage firms other than Dickson Realty are marked with the BROKER RECIPROCITY logo or the BROKER RECIPROCITY thumbnail logo and detailed information about them includes the name of the listing brokerage.
The broker providing these data believes them to be correct, but advises interested parties to confirm them before relying on them in a purchase decision.
Listing information last updated on November 19th, 2019 at 8:56pm PST.