Buy Foreclosed RVs – Save Money Like Dealers Do

Image via Wikipedia

Many used RV dealers pick up a significant portion of their inventory by buying foreclosed RVs. They look for ones in good condition, clean them up a little, fix any minor problems, and then sell them for much more than they spent to make their profit. Avoid paying their mark-up and buy a great foreclosed RV yourself for much cheaper.

RV owners tend to take good care of their RVs. Often when they are facing foreclosure, it is because they experienced a change in employment or other recent event that affected their ability to make the payments on their RV. When the lender notifies them that they are in danger of having their RV foreclosed on, many try to sell it themselves. Frequently they price the RV so that if they sell it, they can pay off the rest of the loan completely. Since RV quickly depreciate and foreclosure often happen in the first year from purchase, these prices are usually too high. As time goes on, the owner may become more realistic and try to sell it for less. Sometimes you can find a good price this way, especially if the lender agrees to a “short sale” where they will accept selling the RV for less than the outstanding loan balance. Either the owner makes up the difference or the lender writes it off, happy to get back at least part of the money. However, the best deals are usually found on foreclosed RVs that have already been repossessed by the lender.

Since lending institutions are not in the business of storing and maintaining RVs, they want to get rid of the RVs quickly. They auction them off, usually with very low starting bids. Most will let you inspect the RVs beforehand so you can be sure you are bidding on a RV in good condition. This will also let you see if it has all the features and amenities you want. For some auctions, you place your bid in a sealed envelope and the highest bidder win. For others you will compete with other bidders in a live auction. It can be easy to get carried away in the excitement of bidding, so have a ceiling price for each RV you are considering to keep yourself from overbidding. If you do not get the RV you want initially, there is no need to panic or worry. Others will be available down the road.

To buy like a dealer, find the auctions, be prepared and get that great foreclosed RV at an amazingly low price.

For more information on finding Foreclosed RVs come visit our site!

Also visit this site to find out more about what is RV Foreclosure?

Article Source: http://EzineArticles.com/?expert=Spencer_Arnold
http://EzineArticles.com/?Buy-Foreclosed-RVs—Save-Money-Like-Dealers-Do&id=3481029


DLPM Launches RealtyValuator.com Beta -- Bridging Big Data and Foreclosures - Wall Street Journal
nnnnnDLPM Launches RealtyValuator.com Beta -- Bridging Big Data and ForeclosuresWall Street JournalUsers will be enabled to forecast various cost & return rate scenarios associated with purchasing, renovating, and leasing each property based on current market data. Ultimately, RV gives a real estate investor similar or better tools than what current ...and more »nnn
More at DLPM Launches RealtyValuator.com Beta -- Bridging Big Data and Foreclosures - Wall Street Journal
Be Sociable, Share!

Posted under Foreclosures

This post was written by admin on February 16, 2014

3 Comments so far

  1. RVs February 10, 2010 12:22 pm

    Thanks for sharing this information, Many person they are don’t about this. You have suggested great idea for buying RV.

  2. admin February 16, 2010 4:08 pm

    Thank you for your interest in my sight. I hope to have a lot more informative articles in the future.

  3. Jayco rvs October 21, 2010 10:59 am

    This information is really helpful for me.

Trackbacks

  1. Buying Foreclosed Trucks For Sale | used online cars blog September 23, 2012 3:08 pm
  2. Documents Involved in Buying Foreclosed Trucks for Sale | CarBuyTipz.com September 23, 2012 6:07 pm

Leave a Comment

Name (required)

Email (required)

Website

Comments

More Blog Post