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.
This Stunning 2 Story Mediterranean Villa Style Home Is Located Within The Fieldcreek Ranch Subdivision. This Home Boasts Mountain, City, And Valley Views From The Upper Level Balcony And Beautifully Maintained Backyard Along With Golf Course View... RE/MAX Gold
Split Level Floor Plan That Sits On A Large Corner Lot. The Kitchen Features A Large Sky Light, Slate Floors And Built In Gas Cook Top. Separate Dining Area With Fireplace. The Living Area Also Has A Fireplace And Wood Floors. There Is A Large Fam... Realty Professionals
Please Read All Remarks Before Showing Or Writing Offer. Gorgeous Wingfield Spring Community. Pride Of Ownership Shines From Every Home. 5 Bedrooms 3 Baths And 3 Car Garage. Seller Has Repaired The Fence, Cleaned Up The Front Yard To The Hoa's Sa... ERA - Realty Central
Adorable Country Home On 1.46 Acres. The Property Is Fully Fenced. The House Has 5 Bedrooms 3 Bathrooms 2 Bonus/sunroom And So Much More! The Kitchen Is Very Open With A Dining Area, Double Oven, Island And Much More! The Living Room Offers Large ... Ferrari-Lund R.E. Sparks
In A Great Location, This Home Has Much To Offer! Walk Into Your Living Room With A Nice Fireplace As The Focal Point Of Your New Home. Dining Room Is A Great Size For The Home With Backyard Access. The Kitchen Has Lots Of Cabinet Space. Upstairs... Reno/Tahoe Realty Group, LLC
Opportunity In Stead Under $400k! Open Concept Floor Plan With Great Natural Light On A Corner Lot. No Rear Neighbors! Needs Flooring And Paint Throughout Most Of The House, Upstairs Loft Area Has Been Enclosed To Make A 4th Bedroom Or Bonus Room.... Nevada Home Connections
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
Wonderful Lot On A Gentle Upslope With Beautiful Trees And Nice Views. 1 1/2 Miles From The Paved Road (cartwright Rd.) And 15 Minutes From Historic Virginia City. Nearby Blm Land For Outdoor Activities Like Atv, Dirt Biking, Hiking, And More! Ult... Greathouse Real Estate
More on RenoForeclosure Homes
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 April 22nd, 2021 at 10:11pm PDT.