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J. Philip Real Estate has vast experience in the purchase of distress properties and is an asset for any buyer seeking a short sale, REO or bank owned foreclosure. We can help you in the following types of transactions:
- Short sale (listing and selling representing the owner) of any home in Westchester or greater metropolitan New York
- Purchase of a short sale in Westchester or Metropolitan New York
- Purchase of a pre foreclosure in Westchester or Metropolitan New York
- Purchase of a bank owned property (REO)
Bank owned foeclosures (REO) are not for everyone, and their purchase is far different from that of a typical home. We have represented dozens of buyers in these specialized, atypical transactions where the seller is actually a bank, and helped our clients navigate a far different landscape including:
- “As is” transaction with the buyer unable to get recompense for defects and violations
- De-winterization
- Water damaged property
- Negotiation with an asset manager as the de facto seller
- Buyer having to pay state transfer tax
- “Time is of the essence” contract terms
- Cash-only or 203k rehabilitation loans only
And many other conditions almost never found in other types of transactions.
REO and bank owned foreclosures, distressed porperty and short sale purchases are not like other purchases. We excel in representing buyers in these transactions.
If you need to sell your home in a short sale, we are Westchester County’s premier short sale brokerage. The same skills apply to surrounding areas throughout metropolitan New York. We can help sellers avoid foreclosure and dispense with their properties with dignity with no out of pocket commission and no residual debt to the lender. The slate is wiped clean.
Looking for Bank owned foreclosures (REO), short sales or distress sales? Get a free listingbook account and contact us about representing you in your purchase.
