Thanks to the foreclosure crisis, banks have become the owners of thousands of houses in the Detroit area and throughout Michigan. This presents a tremendous opportunity for those able to take advantage of this situation. Buying a foreclosed property, however, may be harder than it appears. Many people discover that bank real estate owned (REO) departments are challenging to work with. Trying to deal with bank asset managers who don’t understand local market conditions or customs is frustrating. Mortgage lenders and appraisers who don’t understand your goals or fully comprehend property valuations can frustrate your investment plans. An experienced lawyer may be your best option for cutting through the red tape to achieve your objectives.
Free Initial Phone Consultation • Reasonable Fees • Years Of Experience
The real estate attorneys at Galloway and Collens, PLLC, have more than 15 years of experience helping clients work through the complex issues of purchasing a bank-owned property in Michigan. We will help you sort through the challenges of buying a foreclosed property. We can work with you to identify your goals for making the deal, and develop and implement strategies that will help you land the best deal at an investment price that makes sense. We will help you negotiate a purchase agreement that is specifically designed to make your goals a reality.
“Many people become frustrated at the confusing process and lengthy forms typically required when purchasing a bank-owned property. The truth is, many employees of bank REO departments don’t understand the local real estate sales process. They deal in money and assets. We work on your behalf to get results.” — Attorney T. Scott Galloway
Our attorneys are professional, experienced negotiators who will handle every component of your deal, from working with a real estate agent to preparing your purchase offer and dealing with the appraisal. When we sit down to negotiate the sale, the bank will know that we’re serious about helping you protect your financial interests.
Contact our offices in Huntington Woods, Michigan, to discuss your goals with one of our attorneys.