Topics For Buyers & Sellers

Myths about Distressed Properties – Debunked!

Distressed properties – foreclosures and short sales alike – represent potentially great value for prospective buyers. However, common misconceptions about the time and money investment involved with buying such properties may keep many from inquiring further into this market. KW Research survey findings, taken from more than 2,500 KW associate respondents who have worked with distressed properties, can help steer clear of concerns as you make your way to homeownership.

Buyer Concern

Research Found

It’s going to take forever to find one I want.

3 out of 5 REO buyers and 1 in every 2 short sale buyers spent less than one month searching for a home before writing an offer.

How many offers do I have to write before one gets accepted? 10? 20?

7 out of 10 distressed property buyers wrote three or fewer offers before one was accepted.

I know I am getting a good deal but will the cost of repairs eat up the savings?

Half of REO buyers and almost one-third of short sale buyers spent less than $5,000 in repairs.

Nathan Bangs

Brought to you by KW Research.