Buying Options Can Open “Hidden” Doors

Glendale, CA — Many consumers think that any home they might want to purchase will be listed on real estate Web sites or in newspaper sections, whether sold through brokers or by owners. And indeed, most properties can be found this way. But limiting any search to just these channels can eliminate many prospects for a new home.

“The ‘hidden’ options of auctions and foreclosures can open up greater possibilities,” says Parsekhian, Broker/ Owner with Americana Real Estate Services. In some cases, these purchase methods can even offer opportunities to consumers who might not otherwise be able to purchase a home.

Properties are auctioned by motivated sellers for a variety of reasons, but the reasons rarely have any effect on the property itself. In the recent housing market, foreclosure has become regrettably familiar. But this creates a situation where banks and other mortgagees have a surplus of properties that they would rather divest themselves of than own.

Auctions and foreclosures can be found in most every area, too, and in almost every market segment: single-family homes, condos, resort and multi-unit properties.
Yet many consumers may be unaware of these purchase options or are reluctant to pursue them, due to a lack of knowledge. Certainly learning the ropes to these “alternative” homeownership paths can be difficult, and the cost of making a mistake can be steep.

However, working with someone who understands these industry niches can smooth out the process. “Real estate professionals who know how to manage both traditional transactions and those conducted through less well-known purchasing methods can help guide consumers through the intricacies of such alternative-method purchases,” says Parsekhian.

Vic Parsekhian is one of more than 50,000 members of the Real Estate Buyer’s Agent Council (REBAC) of the NATIONAL ASSOCIATION OF REALTORS®, who have attained the Accredited Buyer Representative (ABR®) designation. As the world’s largest association of real estate professionals focusing specifically on representing the real estate buyer, REBAC is “The Voice for Buyer Representation,” with more than 50,000 active real estate professional members of the organization throughout the world.
Whether down the traditional route transacting business through a seller’s agent or along less-traveled paths of finding auction and foreclosure properties, ABR-designated REALTORS® make a buyer’s best interests their own.

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