At Fortune International Realty, we have specific programs for selling your Distressed Property as quickly as possible:
1. Auction: We are experienced in working with several of the USA's leading auctioneers. We will organize and plan an aggressive and targeted international & national mass media campaign to auction your property on a specific date and time. As part of the marketing campaign, we tap into our vast international network of partners and worldwide clients (including institutional investors & Real Estate Investment Trusts).
2. Asset Restructuring: We actively work with owners to strategically reposition their real estate portfolio, to have the highest possibility of either selling or getting an equity investor. Our vast commercial and residential development experience allows us to analyze your real estate portfolio and reposition for highest and best use given the current market conditions.
3. With 12 offices and over 800 agents, we have successfully developed and represented over 50 projects. An international network of over 200 affiliates.
4. With distressed or foreclosed properties, time is of the essence. Purchasers must close on the date specified by the agency, and those that cannot close face large penalties. Therefore, we make sure that executed contracts follow certain strict guidelines.
5. It takes 1-3 weeks to qualify for a loan. If a buyer is paying cash, we make certain funds are available. If finances are in order, only then will we submit an offer.
6. When representing the purchaser of a distressed property, we always obtain 3-4 bids from different contractors to estimate costs of repairs.
7. We ask our clients to keep copious records for tax deductions. Any expenses related to the purchase, repair, or maintenance of the property may qualify. Meticulous records are key to a profitable real estate venture for the seller.
8. The title received after purchasing a distressed or foreclosed property is a special warranty deed rather than a general warranty deed. We refer buyers to experienced title insurance attorneys that can remedy any situation that may arise. Foreclosure properties usually require special addendums and special contracts by the individual bank and HUD office.
9. Foreclosure properties are potentially the most profitable for buyers, but require the most attention to detail. Our experience in working with distressed properties is highly valuable to today's seller- all paperwork must be in order to submit a proper bid, and timeliness is critical.
10. We have an exclusive alliance with Bank of America, and work closely with their underwriting and loan committies in finding a solution to the cash crisis that many frustrated sellers face in today's challenging real estate market.
