Tags: Owner Financing

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The Benefits Of Buying a Foreclosed Home & Why CastleRock REO Might Be The Right Fit For You! 


Homefinder.com will tell you "the primary reason to consider purchasing a foreclosure is the potential for a great deal. The foreclosing lender typically doesn't want to hold on to the home and may be willing to offer the property at a discount to get it off their books." 


HGTV says, besides the seller being more motivated, "they might be amenable to providing major closing cost credits and other concessions."  


According to Trulia, "Foreclosures can be found at all sorts of price points (starter homes, luxury homes.etc) and sometimes are only in need of minor repairs and upgrades. With some sweat equity, repairs and upgrades, a homeowner can turn a foreclosure into a home and see some appreciation in the property's value." 


Here at CastleRock, we agree with all the above, however, I want to focus on what sets us apart & why CastleRock REO might be right for you! 


CastleRock REO provides you with OPTIONS! If you are a pruchaser who does not need financing & can close quickly with your own funds, we have homes for you. If you are tired of paying rent, want to own your own home, are willing to make necessary repairs & have a stable income for at least a year, we might have just want you are looking for!


We understand that buying a home can be very daunting but we strive make the entire process quick & painless! Listed below are a few simple steps that could help you get into your OWN home before you know it! 


 Cash Buyers:

Step 1: Choosing The Right Investment Property- Search through our nationwide inventory and if you find something you like please call the asset manager associated with that specific property & they will help you from there. 

Step 2: Making An Offer- You can make an offer through our website or directly with the property's assigned asset manger! Most of our properties are sold with quit claim deeds, however you can chose to purchase the property with title insurance and close with a title company! 

Step 3: Purchasing and Closings- Once a price is agreed upon, a purchase agreement and writing instructions will be sent to you within 24 hours. We ask that you sign the agreement & return it to us within 48 hours. All are done electronically, through fax or email unless they are title closings. Once the full payment is received, we will immediately instruct our closing department or title company to transfer the deed into your name.You will receive the original deed directly from the county, however deeds can take a number of weeks to be recorded so please be patient! 


Cash Inventory! 


Owner Financing Buyers: 

Step 1: Research, See If You qualify & Home Search- first and foremost, it is important that you do your research to see if this program is right for you, if it is see if you qualify, once you qualify your home search can begin!

Step 2: Applying for A Home- After you have viewed our inventory and received preliminary approval from on our asset managers, please print & complete the application. We ask that you please fax or email all required items to your asset manger. 

Step 3: Application Review & Approval- This process generally takes about 2- 4 weeks. Please remember to fill out the application in its entirety. The more infomation you provide, the sooner we will be able to let you know if you are approved. Once approved, CastleRock will mail you the purchase agreement and all necessary paperwork through FedEx Standard Overnight mail. Please sign and notarize the documents & mail them in with your deposit, along with your first month's payment! 


Owner Finacing Inventory! 


 Also, always remember, to keep an eye on our website. Our nationwide inventory is constantly growing and we don't want you to miss out on a fantastic investment opportunity or maybe even your dream home!  



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