About the Process of Buying Bank Recovery Houses
What is a real estate bank adjudication?
A bank adjudication occurs when an owner fails to complete the payment of his or her estate. Once an owner has failed to provide their monthly payment twice in a row, the bank can claim a breach to the Simple Mortgage Credit Opening Contract. The bank will then attempt negotiation of the remaining payment with the owner, if this does not come to fruition, the clauses in the contract allow the bank to sell the rights of credit.
It is at this stage, in which a property will be placed on sale.
Once the rights of credit with a mortgage guarantee have been bought, the estate will be in one of these stages with bank:
- Rights of Credit (before lawsuit begins)
- Litigious Rights (lawsuit in process)
- Adjudication Rights (last stage of lawsuit)
- Purchase with Deed (bank owns the estate)
- Delivered on Purchase
Process of Purchase:
Credit cannot be accepted as a form of payment. A down payment must be provided at the beginning of this process. The delivery of the property will be in accordance with the stage in which the property is found in, which can range from 6 months to a 1 year, approximately.
We back this process up with a Service Provision Contract, in which we commit to carry out the entirety of the process until the delivery of your home.
What guarantees do you have?
The delivery of your home or the return of your money in its entirety.
What benefits do you get?
- A long-term investment, since real estate is always on the rise.
- A property on a discounted price that you will not be able to find anywhere else.
- A reliable purchase
- A home that you can choose to sell, rent, or live in.
Do not miss out on this great opportunity!
