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Foreclosures Rancho Bernardo CA is not different from other foreclosures homes which are now becoming the latest craze in the real estate market today. They are not sold or transacted with the help of agents or brokers but are instead dealt with by the Real Estate Company, banks or lenders who were able to recover the property from the previous owners when the latter failed to make regular payments for the loan.
Homes under foreclosures Rancho Bernardo CA are sold at a much lesser price in public auctions. They are subjected to a bid and the highest bidder gets it. The bidding is naturally open to all interested buyers and investors coming from different places. The good thing is that buyers can participate directly to the bidding so there are no extra costs and charges. Besides, the buyer can also negotiate directly to the company.
The main reason why foreclosures Rancho Bernardo CA are very popular is its very low selling price. In fact, they are sold at prices up to 50% lower than the original value of the property. This is an irresistible deal for people who wanted a house for long but has not enough money to buy it with. Most of the time, the lenders are much in a hurry to liquidate their assets so they sell the property even for so low a price to get back even a fraction of what they have spent rather than lose everything.
Another interesting fact about Foreclosures Rancho Bernardo CA is that they are usually built in good locations. After all, the homes have been previously occupied so the place, it is safe to presume, has been chosen with considerations as to proximity with schools, workplaces and other facilities. Finally, the homes sold under this scheme are still in very conditions and with no structural damage at all. Most of them were in fact occupied just for a few months by the previous owners.