Even in an affluent community such as Watertown, Connecticut, foreclosures have become commonplace in the real estate lexicon. The struggling global economy has yielded a growing number of distressed properties, and many buyers and investors are turning their attention to them in order to increase their buying power or to find a lucrative real estate project. If you are interested in investing in Watertown, CT foreclosures, make sure to first connect with an experienced distressed property specialist such as Edite Calabrese.
When a distressed homeowner defaults on their loan, the lender repossesses the property through a process known as foreclosure. The home is then put up for auction in order to recover the remaining equity, and interested buyers and investors are usually able to take advantage of prices that can drop below the outstanding balance of the mortgage. While pursuing Watertown, CT foreclosures sounds like an easy decision to make, there are some disadvantages to look out for. Buyers are required to purchase a foreclosure sight unseen, in cash, and in full, and there is no ability to inspect the property beforehand or find out about existing liens or taxes.
Watertown Connecticut Foreclosure
The risks involved with a Watertown Connecticut foreclosure makes it essential to partner with a Realtor®. Edite Calabrese is a distressed property specialist who has unmatched knowledge of the area and can advise you on this type of investment, find the most promising properties on the market, and execute the transaction to the best possible outcome. She can also help you with distressed real estate throughout Litchfield County, as well as traditional Woodbury Properties and much more.
For more information about investing in Watertown, CT foreclosures, or to learn about properties in the Woodbury Real Estate market, contact Edite Calabrese and the firm of Realty Executives ICON today.
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