Mayfair Group: Immediate Returns On Detroit Foreclosure Properties

By Author: Bruce Wills
Total Articles: 52
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Mayfair Group: Immediate returns on Detroit foreclosure properties

Rental deals provided by Mayfair Group are risk free investments, in which, the owner gets a fast turnaround from the U.S. based properties offered at 50% below market price. The group provides refurbished properties ready to give on rent and its local partners in the city provide asset management services such as relocating a tenant and collecting the rents.

The trend of investing in U.S. foreclosure properties for monthly rentals is a great opportunity around which has attracted overseas buyers wishing to own a property in a foreign country. Residential properties in U.S. can be used for personal residence or as a vacation home but a personal residence property cannot be traded like other investment properties. There are many conditions which should be fulfilled to own a residential or vacation homes. The buyer has to spend a certain number of days in the house to make it eligible to be a vacation home.

Buyers who are not aware of the risks of foreclosure properties should seek the guidance of an expert.

Problems faced by individual ...
... buyers

1. Foreclosure homes, sometimes, comes with a second mortgage and certain tax liens.

2. Some private investors who take part in bidding find it difficult to evict the homeowners who are living in the house from some time.

3. It is not easy for an individual buyer to search for high selling residential properties and sometimes direct deals are excessively exhausting because it can take months to close the deal.

4. The buyer may have to negotiate the deal with the lender to eliminate the tax liens or other mortgages.

5. Many foreclosure properties require huge expenses on refurbishments and the buyer fails to detect these expenses.

Bank owned properties are held by the banks and these properties are the ones which have not been sold through the bidding processes. Buyers can save their investment money by contacting a real estate firm which specializes in providing bank owned properties. Many real estate investors spend on bulk buying and a reliable real estate firm can place a bid against the buyer to get the bank owned properties and a clean Title Deed without any hidden problems.

Mayfair group's local partners in Detroit search for appropriate house, its location, appreciation value, examine the house from inside and outside before placing the bid and the buyer can easily get a house which can provide monthly rents. The price of ownership quoted by Mayfair includes the taxes, insurance, refurbishment costs and other miscellaneous expenses. Rental properties provide an easy option to get fixed income and U.S. buyers can claim to get other tax deductions such as deductions on maintenance expense, depreciation, insurance of the properties, mortgage loan interest etc.

For more information log on to Detroit Property Investment,Mayfair Group or Mails us at-info@mayfair-group.com, myfairgroup@gmail.com, webmaster@mayfair-group.com