DISTRESSED PROPERTIES
A distressed property is a property that is facing financial difficulties or physical damage, making it difficult to sell at market value.
Causes
- Financial troubles: The owner may be facing financial difficulties due to missed payments, tax liens, or economic downturns.
- Physical damage: The property may be physically damaged or neglected for a long time.
- Legal issues: The property may be subject to legal issues like unpaid property tax or foreclosure.
- Divorce or bankruptcy: The property may be the result of a divorce or bankruptcy.
Opportunities
- Discounted prices: Owners may be motivated to sell quickly, sometimes at a discounted price
- Profit potential: Buyers who are willing to invest time and money into fixing these properties can often turn a good profit.
