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.
Wonderful Opportunity In Arrowcreek. This Home Is Located On Just Over An Acre, And Features Recent Updating Including A Brand New Paver Driverway And Landscaping, The Interior Has Been Repainted, Several New Appliances Have Been Added, New Cabine... Reno Realty
A Spacious 6 Bedroom, 3 Bath Home Located In The Heart Of Cold Springs And Just A Few Minutes From The Bordertown Exit! This Home Has A Great Backyard And A Great View Overlooking "white Lake". With Two Fireplaces, The Home Is Cozy And Has Lots Of... Reno/Tahoe Realty Group, LLC
Wingfield Springs - Cimarron Cul-de-sac Home! Resident Discount At Red Hawk Golf Club In Wingfield Springs. Granite Counters In Kitchen. Large Kitchen And Family Room Look Out To Private Backyard. Formal Living And Dining Rooms. Laundry Room With... Coldwell Banker Select Reno
This Home Is Ready For Some Love! Features Include Newer Bamboo Floors In Main Living Areas, Open Concept Floor Plan, New Windows Throughout, Large Bedrooms, And Storage In Garage. Easy Maintenance Back Yard Located On A Corner Lot With Rv Parking... Nevada Home Connections
This Is A Well Laid Out Split Level Home. A Living Room With Lots Of Natural Light And A Semi-formal Dining Room With Built In Shelving Will Lead To The Open Kitchen. With Lots Of Cabinet Space And A Nice Breakfast Bar, The Kitchen Flows Into The ... 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
Wonderful Opportunity In Rainbow Bend, This Home Was Recently Updated With Brand New Stainless Steel Appliances, New Paint (inside And Out), New Flooring Throughout, New Cabinetry, Counters And Lighting. Located In The Rainbow Bend Community, With... Reno Realty
This Is A Short Sale And Subject To Third Party Lender Approval. Property Taken In As Is Condition And Does Need Work. No Appliances. Back Room Addition Done Without Permits. Bank Has Approved The Value. Miner Realty of Nevada LLC
Check Out This 2-bedroom/1.5-bath Condo W/ 2 Car Garage. You'll Enjoy A Living Room W/ Vaulted Ceiling, Laundry With W/d Included, Kitchen W/ Dishwasher, Electric Range. It's Perfectly Suited For Entertaining, But Also A Special Place To Gather F... Berkshire Hathaway HomeService
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 July 10th, 2020 at 9:56pm PDT.