This Land Foreclosure is located at Franconia Rd, Springfield, VA 22150. This property is currently bank owned.
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This land property is available as a foreclosure at Franconia Rd. Based on our analysis of the current market conditions in Springfield for Franconia Rd and comparable listings, the estimated market value is still being calculated. If purchased for rental purposes, this property might present an opportunity to make monthly rental income. The rental value will be updated on this listing soon. Factors considered in this calculation include the property location, condition, status, and convenience. Properties like this one located at Franconia Rd are updated daily along with others in Springfield, Virginia. Since this property is a foreclosure, check out our Foreclosure Timeline for Franconia Rd below to see helpful information about this listing.
Not in Foreclosure
The property located at Franconia Rd in Springfield, VA is listed as a ForeclosureProperties like Franconia Rd in Springfield, Virginia listed as foreclosures have passed the point of auction or public sale. Because the properties were not sold at auction, the lender is now the owner and is engaged in the process of marketing and selling them to potential buyers through a local real estate agent or auction house in Springfield, VA. The longer lenders own properties like this on Franconia Rd, the more eager they become to sell, often at reduced prices.
Foreclosures often mean the original homeowner had some sort of setback that caused him to allow his lender to take the property. Rarely does a lender want to retain possession of real estate, so it will be motivated to move it off the books as quickly as possible. A fast turnover is what the lender is looking for, so a big part of the marketing plan might include pricing for a quick sale. In order to take advantage of foreclosed properties there are some basic steps to be followed:
Steps as you search for your foreclosure property:
Foreclosed properties can represent excellent opportunities to acquire real estate at bargain prices. But in order to take full advantage of these opportunities you must have all your information and take an organized approach to finding and acquiring foreclosed properties. Find the location and property that interests you, work with the Realtor and closing agent to learn all you can about the property, and make your offer based upon good information and research.
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