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.
- Quick Deals
- Occupation Status Verified
- Confirmed Title Insurance
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.
Offers Financing
or Cash option
Perfect for Buyers
seeking a High-Value
Fixer-Upper
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.
