Welcome to vailforeclosures.net, summitforeclosures.com & foreclosuresaspen.net, the source for current bank owned, foreclosed, short sale and REO real estate for sale in Summit County, Vail & Aspen, Colorado. Are you familiar with the current resort market statistics for the Vail and Summit County areas? Did you know less than 5% of the nearly 2,500 active Eagle County area listings are bank owned? This limited market segment is highly competitive and identifying the available inventory is just the first step.
Writing an offer the Corporate Seller (i.e. Wells Fargo, Fannie Mae/Freddie Mac) will accept and navigating the sometimes extremely irrational process is not for everyone. Those ready, willing and able to invest the time and financial resources will save tens or possible hundreds of thousands of dollars purchasing a distressed property. Be advised that by the time a desirable REO hits the Vail or Summit Multi-list, offers can be expected to come in within hours so be prepared to act immediately and work with a Realtor with a proven record of listing, selling and closing distressed real estate transactions.
With respect to distressed properties (REOs, bank owned & short sales), we have spent the last several years working with default servicing companies, listed and sold more than $3 million in distressed properties, completed hundreds of BPOs and developed a firm understanding of the process and challenges to close a distressed property transaction. This particular market represents less than 5% of the overall area market and requires a skilled brokerage with the resources and experience. Premier bank owned properties are scarce and if your goal is to find and own one, you must work with a firm proven in transacting these types of property transactions.
Before getting serious, please evaluate your financial situation with your bank or mortgage broker and know definitively how much you can afford to borrow if you will be relying on financing to make your purchase. A current pre-approval letter and proof of funds not less than the amount you intend to pay out of pocket is required before an offer can be submitted. The banks (Seller) will require this information with all offers. Multiple offer scenarios are common and Seller response times to offers will vary from 1 to 5 days.
Access to properties and foreclosure information contained herein is restricted to registered members. Registration is FREE and provides instant access 24 hours per day. If you would like to receive daily a list of distressed properties by email as well, please answer yes in the “Receive Daily Emails” field in the Registration form. Real Estate Brokers and buyers with existing agency relationships are asked not to register, thank you for your cooperation.