Cabo Foreclosures step by step guide

Guide to Navigate the Bank Owned Process

Here is a step-by-step guide to help you navigate the process:

  1. Research the market: Before investing in any property, you need to do your homework. Start by researching the Los Cabos real estate market to get an idea of property values and what types of properties are available. Look at local real estate listings, talk to local real estate agents, and read up on the area’s demographics and economy.
  2. Identify bank-owned properties: Once you have an idea of the market, you can start looking for bank-owned properties. You can find these properties by contacting us direct and we will email you a list of current bank owned properties throughout Los Cabos.
  3. Get pre-approved for financing: If you plan on financing your purchase, it’s important to get pre-approved for a loan before making an offer on a property. This will give you an idea of how much you can afford to spend and can make your offer more attractive to sellers.
  4. Inspect the property: Before making an offer on a bank-owned property, you should inspect the property thoroughly. Hire a professional home inspector to assess the property’s condition and identify any issues that need to be addressed.
  5. Make an offer: Once you’ve found a bank-owned property that you’re interested in, it’s time to make an offer. Work with one of our Agent Specialists to submit an offer that takes into account the property’s condition, market value, and any repairs that may be needed.
  6. Negotiate the sale: In some cases, the bank that owns the property will be willing to negotiate on the sale price. We will decide a fair price that works for both you and the bank.
  7. Close the deal: Once you’ve come to an agreement on the sale price, it’s time to close the deal. You will work with our real estate attorney and/or title company to handle the legal and financial aspects of the sale.
  8. Take possession of the property: After closing, you’ll take possession of the property and can start making any necessary repairs or improvements. If you plan on using the property as a second home or vacation rental, you’ll also need to work with a property management company to handle maintenance and rentals.