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Buying a luxury REO in Rancho Santa Fe sounds strange. How can something possibly be “luxury” if it’s bank owned? Well, seeing as how Rancho Santa Fe didn’t escape the bursting of the housing bubble like every other town and city in America, you can trust me, these homes exist. Especially in Rancho Santa Fe.

So a foreclosure happens when, for whatever reason, the home owner stops making payments to the bank to cover the mortgage loan. Eventually the bank is put in a position to take over the property and handle it themselves. Not an ideal situation for either party, but this is where you come in.

Let’s say you’re looking for a luxury home in Rancho Santa Fe. Well, Rancho Santa Fe is known for it’s luxury homes, so guess what. Luxury homes here are VERY expensive. More so than most places that are revered for their resort lifestyle. That’s when you start hearing about these fabled REO in Rancho Santa Fe.

When you’re purchasing one of these estates you’re getting a lot for a fraction of the price. It’s true that there are often issues that come with foreclosures. Often times home owners will have abandoned the home long before the actual foreclosure and there is wear and tear. Which means you better have some reno dollars allocated in your budget. That is, if you’re buying a regular foreclosure. Luxury foreclosures in Rancho Santa Fe, on average, don’t have that problem. At least to the extent that a single family home foreclosure would. Most often luxury owners understand the foreclosure process clearly and are more willing to work with the bank to move the property. Therefore they’re not going to allow the home to fall into disrepair.

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That’s not the only issue that comes with buying a foreclosure though. After all, you will be dealing with a bank. A bank that has been burned on the very same property by someone else. Which means there can be a lengthy buying process. Endless negotiations going back and forth that can really give the home buyer a headache. Well, now that’s no longer a problem either. Not with OpenOffer.com. OpenOffer.com does all of the negotiating for you and gives you the tools to make the most informed decisions.

Once you’re ready to make the move to Rancho Santa Fe you should try visiting OpenOffer first.

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This is filed under Foreclosures.


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