Buying Foreclosed Properties

Now is a great time to buy property, especially if its in foreclosure. During this period of “finger pointing” when banks own more property than they would like to, Tomacor has discovered a unique service to help buyers, retailers, and developers. We now offer a cost break-down for completing distressed properties.

Tomacor has inspected approximately 50 units in foreclosure that are being purchased by investors who believe that the value of the asset will increase significantly once they can budget for the rehab cost. In July one project included 11 town homes on the city’s near north side. These town homes have been vacant and without a roof all winter yet our client brought the note from the bank and is completing the construction. He expects to sell within the next year!

If the numbers look promising and the deal is right, why not engage Tomacor to create budget figures regarding the cost of completion. Tomacor is feeling movement in this end of the market due to the presence of so many great deals that are under valued and ready to be developed.

Are you interested in this service or do you know someone who is?

As always, inquiries are encouraged!

Tom Corbett

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