Columbia, SC Real Estate- Columbia Homes for Sale-REO Investment Opportunities

Columbia, SC Real Estate-Columbia Homes for Sale-REO Investment Opportunities

In today’s economy, the number of distressed properties on the market is ever increasing, which can be beneficial to real estate investors. As with all investments, to be successful it is necessary to be very knowledgeable about what exactly is out there to purchase.

REO properties are flooding the real estate market, including homes for sale in Columbia, South Carolina and surrounding areas. They can be very lucrative if you know what to look.

REO stands for “Real Estate Owned” which means the property is now owned by the bank or mortgage company. These properties did not find a bidder during a foreclosure action, which is actually fairly common. In foreclosure auctions a buyer must have a cashier check ready to pay for the property’s remaining loan balance, accrued interest, attorney’s fees, and costs associated with foreclosure. They also must take the property and title completely “as-is”, including tax-liens. Buyers may also find that a person is still residing in the property as well.

With REO’s, the process is much cleaner. The seller is out of the transaction meaning the only people you have to interactive with are the bank, the bank’s agent, and your agent. You are able to inspect the home prior to purchase. The bank will also handle evictions if necessary, in additional to clearing the title of all additional liens to prevent title/claim problems. A title insurance policy is also typically included in the sale.

Is it a bargain?

REO properties are considered by banks to be “non-performing assets”, meaning that they want to get rid of them as quickly as possible. However, banks do have strong motivation to get as much as possible for the sale. With that in mind, it is important to do research before purchase by looking at comparable sales in the neighborhood and to take into consideration costs for repairs/remodeling.

But there are still many bargains out there to take advantage of. REO’s are often sold for less than the remaining loan balance and banks can offer attractive financing options.

Options for making a profit off your REO purchase include:

Re-selling
Renting (great if you desire a steady cash flow)
Living in it

Exit Real Estate Solutions is here to assist you with your real estate investments. We have many experienced agents who can guide you through the process of finding and purchasing a bargain REO property.

Please feel free to contact us at our website or call us at (804)708-2646 to learn more and start making money today!

Columbia,SC EXIT Real Estate Solutions – Jae Kim, Broker
Buying or selling a home or property should be one of the most enjoyable experiences of your life. Most of the time, it’s the largest investment you will make. Jae Kim of EXIT Real Estate Solutions in Columbia, SC is your Award Winning Real Estate expert in Blythewood, Columbia, Lugoff, Elgin, Lexington, Irmo,Chapin, Camden,
Cayce, West Columbia, and the rest of Greater Columbia. This is what we do every day. We can simplify the process for you so that you can enjoy the the experience and avoid the pitfalls that often result in stressful transactions. Call 803-348-3052 today for World-Class, Award- Winning representation.

About Jae Kim, Broker/Owner - EXIT Real Estate Solutions

Jae Kim is a an expert Realtor®/Broker in the Greater Columbia Area including the cities of Blythewood, Columbia, Lugoff, Elgin, Lexington, Irmo, Chapin, West Columbia and more. Jae has in depth knowledge and experience in many large neighborhoods including Lake Carolina, LongCreek Plantation, Crickentree, Wildewood, Woodcreek Farms, Governors Grant, Ascot, Ashford, Chestnut Hill Plantation, and Saluda River Gardens. He can help you find anything you are searching for, including homes, houses, condominiums, lots, land, townhomes, foreclosures, short sales and real estate listings for sale. He also has extensive experience in relocations, military transfers, & investments. Jae Kim is a Georgia Tech graduate in Mechanical Engineering. He worked for 12 years in distribution and manufacturing management with companies like Amazon.com, Target, Mobil Chemical , WR Grace , and QVC. Jae has extensive experience in the real estate industry from past purchases and sales (renovations, foreclosures, short sales, duplexes, quads, apartments, commercial property, resort land, etc...). He leverages his experiences to help his clients and their needs. Jae began his real estate career with Coldwell Banker in Camden,SC. He had his first full year in 2005 (see below). Jae moved to RE/MAX in 2007 and started his team. In 2008, Jae became a broker and his team maintained an average of 40 listings with an average price of $200,000. In 2009, Jae received the prestigious CRS designation, placing him in the top 4% of all real estate sales agents nationwide. In May 2009, EXIT Real Estate Solutions, opened its doors to the public with Jae Kim as the Owner/Broker-in-Charge. Jae has exceeded $40,000,000 in transactions and continues to remain in the top 1% of agents in the Greater Columbia area. Jae was the 2010 Top EXIT Realtor® in Greater Columbia and #3 in the entire state. Jae has just recently opened his second office in Irmo, SC and is excited to continue with this success and grow! Recently, Jae Kim was recognized by The State Newspaper for his sustained success in real estate despite the hard market conditions. Previous clients have been overwhelmed with joy after working with him. Many are shocked how quickly he is able to sell their property, and others are thrilled about how easy and stress-free he makes the process of buying or selling a home. They have appreciated his broad knowledge base along with the endless tips and advice he is able to provide. Additionally, they assert that Jae’s hard work, commitment, and professionalism make him THE Realtor® to work with! In his free time, Jae enjoys spending

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