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INSTANT Utah home search. BEAT out your competition when you buy a house here in Utah. FREE access to MLS listings. New homes and price alerts. Easy to use. 

Rent To Own Homes In Utah

We have an unique program for Utah rent-to-own homes.

We have a group of investors that will buy the home you pick out and put you on a rent to own home in Utah.  The areas are in Weber, Davis, Salt Lake, Utah, and Tooele County. Must have a minimum credit score of 550 and have an annual household income of $50,000. Go to www.idealhomeforyou.com for more info or call me at 801-589-2437. 

Other Types of Homes

Utah Bank Owned Homes - Utah Foreclosures

Utah Bank Owned homes, Utah Foreclosures, or Utah REO's ( Real Estate Owned) are houses or properties that have gone back to the lending institution as collateral when a home owner has not paid on their mortgage payment. They are also call non conforming loans. These properties have gone to auction with no bids causing the Banks or Lenders to take the house or property back. Call me or send me a text to find out how to make an offer on a Utah bank owned homes from listings off of the Utah MLS. There is a right way and a wrong way.

Utah Short Sales - Utah Pre Foreclosures

Utah Short Sales or Utah Pre Foreclosures Homes are properties that the seller has controll over and still Owns. Most of these Utah properties are behind on their payments, have to sell because of job transfer, divorce or are upside down in the home. The term short sale comes from the lender taking less then what is owed or a shortage of the payoff.

(Buyer Beware) 85% of all For Sale by Owners fall into this category. Find out how you can buy these homes without being upside down. We can can do an analysis on any home so you can see what homes have sold for in any given area. Call me or text me at (801) 589-2437.

Utah Hud Homes for Sale - Housing and Urban Development

Utah Hud Homes for SaleThese hud homes were once FHA loans back by the federal government. Home Owners defaulted on payments and as a result these properties went to auction with no bids.

If you want to buy one of these Bank Owned Homes in Utah for pennies on the dollar If you would like more information or would like to view a home please call or text us at 801-589-2437 for your next Utah Home.

In your Utah property search, see maps, areas, subdivisions, that may have a new home that matches your desires. Search New Home Builders like Fieldstone Homes Utah, Ivory Homes, Richmond American Homes, Candle Light Homes, DR Horton Homes and Salisbury Homes. We have all your new construction listings for your Utah Home Search just like the Utah mls.

Although our Utah property search won't answer these home buying questions, we can so don't worry. Here are some of the questions that most buyers have:

1. Where can I get Utah Bank Owned Homes?
2. Where can I find a foreclosures list in UT?
3. Do you have all Utah properties from the WFRMLS?
4. How do I buy houses in Utah?
5. How do I buy a Short Sales?
6. How are people buying foreclosure homes?
7. How do I learn about buying bank owned properties?
8. What are Utah Home prices?
9. Does your website have the same information as the Utah MLS?                        
10 .What is a Hud Home?

Utah-distressedhomes.com is one of the best Real Estate Resource Center made for finding ski homes, top luxury homes, mls listings, short sales, hud property, and buying homes in UT. Utahrealestate can be bought with for sale by owner financing or through a local Utah Bank. 

If you would like more information on how to buy a bank owned home or would like to view a foreclosure house please call or text us at 801-589-2437.

7 steps on How to bid on a home at Auction from the court house steps.

  1. Have your hard money lined up or private money. You will need to pay all cash for the property the next day. Hard money or private money will run you 3 points (3%) and up on the money you borrow secured against the property. Interest rates can start at +- 12% annual percentage rate. This money is usually due in 6-8 months.  Money for repairs are usually in 4 draws. Each drawl explains what is being bought.
  2. Work with a Realtor. A real estate agent is a great member that should be on your team. They will help you know the value of the home when it is all fixed up so you can know where to bid or not to bid on the house.
  3. Check for liens on the property with a Title Company. Again a great member to have on your team. Have the Title Company do a search to see what liens may be on the property. Some liens like municipality’s liens will be attached to the property and will not be wiped off.
  4. Check when the auction will be held. Some foreclosure auctions get postponed because the bank is in the process of doing a short sale or taking less on the mortgage to a Buyer. Other times the process gets extended due to bankruptcy.
  5. Call the Attorney that is going to be in charge of the auction and have cashier check written out to the Auctioneer name. Must have the cashier’s check in order to make  a bid on the properties that are up for Auction. Keep in mind that most auctions require $10,000, $20,000 or 50% of the money in a cashier’s check.
  6. Visit the property before going to the auction and if possible see the inside of the home.
  7. Have a number in mind as to where you need to be. It is very easy to get caught up in the spirit of bidding at the auction. Know your number and don’t go past it.

Utah Short Sale – Pre-Foreclosures

Utah Short Sales or Pre Foreclosures are properties that are owned by the owner on title. Most of these houses have mortgages that are behind on payments. Some home owners have to sell because of job transfer, divorce or are they are upside down in the home meaning they owe more than what is needed to pay off the original loan. The term short sale comes from the lender taking less then what is owed or a shortage of the payoff. Here are some more questions buyers have asked in the past.

What is the difference between Short Sale and a Foreclosure?

Short Sales are  pre foreclosure meaning  the borrower still owns the property and has total control over what the home will sell for and who will live there whereas a foreclosure, the Lender who lent the money owns the house after it has gone to auction.

Short Sales take on an average about 6 months to buy from a bank. I have experienced some selling in 30 days and some taking as long as 3 years.

Does the loan have to be in default in order to buy on a short sale?

No, the Seller does not have to have their house payments behind.

How long does a Short Sale take from start to finish?

A typical Short Sale takes anywhere from a month to 6 months depending on the Bank, what the offer is, and how organized the Listing Agent is.

How does a Bank benefit from selling on a Short Sale?

What some Banks don’t realize is that the cost to foreclose on a Home is about $15,000 to $40,000 depending on the Attorney, what repairs are need to bring the property to FHA or VA standards, utilities,  other clean ups and marketing costs from the Realtor they Hire. That doesn’t included the amount they have lost from the original loan balance to the new purchase price.

If I buy a Short Sale are there any fees associated with buying one?

 No, there are no special fees you will have to pay for buying a Short Sale.  The bank will eat the loses from the Seller. 

I have a friend of mine who wants to sell me his house on a Short Sale, can I buy it without using a Realtor?

 No, most banks want a listing agreement from a Realtor before any buyer can make an offer.

Can you still get the same kind of rates?

yes

How much can you ask the bank to pay on closing costs? 

The most I have seen a Bank pay towards closing cost is 3% 

Is it better to go through the agent that has the property listed?

No, the agent does not have a say on what the banks bottom line is. Most Buyers think the Agent can discount the commission if they represent both the Seller and Buyer but in reality the Bank just offers less to the Agent and the net to the Bank is higher.

 

What is needed before I can make an offer on a Short Sale or any home?

 A pre-approval letter. Most banks want this with the offer.

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