Bank Owned
Bank Owned Properties
Bank-owned properties - also referred to as real estate owned, or REO - are foreclosed assets owned by a lending institution that were not sold during the foreclosure auction process.
The lender then agrees to re-value the property at an amount that recoups their foreclosure loss but encourages a sale.
Featured Bank Owned Deals
We thought these properties might catch your eye.
Why Buyers Should Consider Bank-Owned Properties
Lenders want to move these properties fast, so they often discount them below market value. Bank-owned properties can also be great for first-time buyers because they can come with a number of guarantees, like a clear title, title insurance, and confirmation of the property’s occupation status.
Other Benefits of Bank-Owned Properties for Potential Buyers
Properties are typically sold as-is, which can be great for buyers looking for a high-value fixer-upper.
Vacant properties may be visited via an open house or private tour before an auction.
Bank-owned properties can often be financed in addition to an all cash purchase.
