The "Balance and Write-Off" is an ethical and advantageous operation.
In every field, as well as in the world of real estate auctions, there are cases of people or companies that seem to earn easily.
Unfortunately, for those without experience in this field, it's not so simple, and the expectations that an inexperienced person has when deciding to participate in real estate auctions, hoping to make a great deal at a bargain price, are almost always unmet.
These investors ignore the strategies that allow one to buy property without competitors. There is a way, and it’s not luck or coincidence, but something else.
In short, if you want to invest in real estate auctions, you need to rely on someone who knows this field professionally and thoroughly; otherwise, you will end up only participating in auctions for properties that will undoubtedly have a low and convenient price compared to the free market, but you will also find many other fierce competitors, in the room or online, who are also looking for the deal of a lifetime, following the false myths of people who have closed deals at a huge discount without knowing how they achieved such an "extraordinary" result.
Knowing the false myths and strategies ensures an opportunity for excellent profit without wasting time. Unlike the average person who believes that at an auction, you need to be good at raising bids to demotivate your opponent, real investors wait for the right strike and aim for the property that the "crowd" often discards.
You must know how to search, analyze, and select the right opportunities, having by your side a professional with proven experience and a solid sales network to place the purchased property back on the market quickly and make further deals.
The "Balance and Write-Off" is a method that allows you to anticipate the auction and cancel a foreclosure through several steps:
- Reach an agreement with creditors to settle the debt at an amount lower than the original.
- Avoid the property going to auction, where you would spend more due to other interested buyers.
- If you’re skilled, you can resell it at market price and make a significant profit.
The "Balance and Write-Off" benefits all parties involved.
The foreclosed person settles their debts and is removed from the list of defaulters, also receiving money they can use as they wish.
The investor who buys the property acquires it below market price and can resell it at a higher cost, making an excellent deal.
The bank and other creditors are repaid promptly.
The "Balance and Write-Off" is a great opportunity if approached with preparation, strategy, and intelligence. It requires beginning with an analysis of the entire debt situation of the foreclosed person, clearly highlighting the risks involved.
The key steps for a real estate write-off are:
- In-depth knowledge of the real estate market.
- Proper evaluation of potential.
- Screening of appraisals.
- Contacts and delegation from the debtor.
- Contacting various creditors.
- Negotiation skills to settle the debt.
- Ability to handle court proceedings to relinquish credits and close the process.
- Sales network capable of placing quickly and maximizing margins.
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