Maryland Blogger: Purchasing Foreclosures in Montgomery County, Maryland

Purchasing Foreclosures in Montgomery County, Maryland

Purchasing Foreclosures in Montgomery County, Maryland

 

Investors are drawn to the purchase opportunities provided by foreclosures in Montgomery County, Maryland. I am not talking about the lender owned properties (REO) that are generally available on the Multiple Listing Service (MRIS) and appear with other real estate searches. 

Foreclosure properties are make available at trustee sale auctions that are held at the court house steps at in each Maryland county. Experienced real estate investors are fully familiar with the process and the risks that are related to trustee sales. 

If you are a new real estate investor, the easiest way to learn about trustee sales is to attend a number of them to learn about the process and to meet and learn from the regular group of investors who participate in these sales. 

Trustee sales are cash transactions and also require large deposits when you are the winning bidder on properties. Most of the time, you will not have the opportunity to see the interiors of the properties and you are fully at risk for the conditions that you will find and tenants who may be in the properties when you become the owner.

If you are accustomed to using a buyer agent, you will want to understand that commissions are not paid for these sales. The buyers are responsible for any compensation due to their agent. A high percentage of real estate agents are not familiar with the trustee sale process. This is a specialty niche for those interesting in acquiring rental properties or homes to fix up and flip. 

 

 

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Roy and Dolores Kelley Photographs

Roy Kelley and Associates

 

Roy Kelley, Associate Broker

Realty Group Referrals (Retired from RE/MAX Realty Group)

6 Montgomery Village Ave., Suite 200

Gaithersburg, MD 20879

Main Office:  301-258-7757 (You will not reach me at this number)

Send an email message if you need my phone numbers. I will be happy to recommend a real estate professional if you are moving to the area.

Comment balloon 10 commentsRoy Kelley • June 15 2017 04:58PM

Comments

Good morning Roy.  This can be a very lucrative niche for the real estate investor.  Great advice.

Posted by Gabe Sanders, Stuart Florida Real Estate (Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales) about 1 month ago

The number of these types of properties have dramatically dropped here in Sacramento.  We are currently one of the hottest real estate markets in the country.

Posted by Myrl Jeffcoat, Greater Sacramento Real Estate Agent (GreatWest Realty) about 1 month ago

Thanks so much for stopping by. Your feedback is always welcome.

Posted by Roy Kelley, Roy and Dolores Kelley Photographs (Realty Group Referrals) about 1 month ago

Roy, Good advice for those who are not familiar with these types of sales.

Posted by Lawrence "Larry" & Sheila Agranoff. Cell: 631-805-4400, Long Island Condo & Home Sale Specialists (The Top Team @ Charles Rutenberg Realty 255 Executive Dr, Plainview NY 11803) about 1 month ago

Roy, buying a home at the Trustee can be risky by not seeing the home, but some investors have made some good money this way.

Posted by Joan Cox, Denver Real Estate - Selling One Home at a Time (Metro Brokers - House to Home, Inc. - Denver Real Estate - 720-231-6373) about 1 month ago

Thanks, again, for your comments. Have a great day and an outstanding week.

Posted by Roy Kelley, Roy and Dolores Kelley Photographs (Realty Group Referrals) about 1 month ago

Great Blog Roy and an area which i am very active in. They can be rewarding but very risky for those who are not experienced. Have a good Monday

Posted by Scott Godzyk, One of Manchester NH's Leading Agents (Godzyk Real Estate Services) about 1 month ago

There are still quite a few foreclosures in our area. The bidding is intense though and the prices go high. I placed 6 bids yesterday for a client of mine. We probably won't get any of them.

Posted by Debbie Reynolds, Your Dedicated Clarksville TN Real Estate Agent (Berkshire Hathaway HomeServices PenFed Realty, Your Clarksville Real Estate Professional) about 1 month ago

Your comments and your continued support are very much appreciated.

Posted by Roy Kelley, Roy and Dolores Kelley Photographs (Realty Group Referrals) 30 days ago

We have a sunny Monday morning in Kentlands and expect a hot day. 

Enjoy the Independence Day holiday!

Posted by Roy Kelley, Roy and Dolores Kelley Photographs (Realty Group Referrals) 18 days ago

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