Your Foreclosed Home Search

How to buy a forclosed home

If you are interested or already involved in real estate investment, REO properties may be able to help you to take your business or investments to a new level. Real estate owned, or REO, properties are foreclosed properties that are presently owned and “occupied” by the bank that foreclosed. Houses, trailers, condominiums, and basically any form of real estate can be REO. Foreclosure is the process by which a bank comes to own a property. It evicts the previous owners, pays off any outstanding debts on the property, and takes title. Now the property is an REO property.

Foreclosed properties are usually put up for auction shortly after the foreclosure, but frequently they do not sell, forcing the bank to hold onto the property and to sell it through other means. This gives potential buyers time to make an offer and drives down the REO properties’ prices. This can reduce the sale price of REO properties by as much as 40% below market value. Whether you are an investor or just trying to get a great home that you could not otherwise afford, REO properties can be great opportunities. In the years following 2008, around a third of home sales were “distressed” sales. The volume of these kinds of homes on the market further decreases prices.

If you are wondering how to buy an REO property, all you have to do is contact a bank. If you want to browse or to start buying these kinds of homes, a foreclosed home search with bank REO listings can get you started. Your foreclosed home search may not even take very long, considering the volume of properties on the market. Your foreclosed home search can be entirely local, too. Foreclosed homes and the bank branches that own them are everywhere. Banks have their Reo foreclosure listings available because they are trying to sell these homes as fast as they can, making your foreclosed home search easy.

Comments

Posted On
May 31, 2014
Posted By
Christopher PAge

Do banks make their REO listings available to any member of the public who wants them, or do you have to have some kind of credentials to get them?

Posted On
Jul 01, 2014
Posted By
Ramon Brooks

Do banks make their REO listings available to any member of the public who wants them, or do you have to have some kind of credentials to get them?

Posted On
Aug 30, 2014
Posted By
Stella Walker

Do banks make their REO listings available to any member of the public who wants them, or do you have to have some kind of credentials to get them?

Posted On
Sep 29, 2014
Posted By
Corey Fruz

Do banks make their REO listings available to any member of the public who wants them, or do you have to have some kind of credentials to get them?

Posted On
Oct 29, 2014
Posted By
Norman Bishop

Do banks make their REO listings available to any member of the public who wants them, or do you have to have some kind of credentials to get them?

Posted On
Feb 26, 2015
Posted By
Juan Myers

Do banks make their REO listings available to any member of the public who wants them, or do you have to have some kind of credentials to get them?

Posted On
Mar 28, 2015
Posted By
Lily Webb

Do banks make their REO listings available to any member of the public who wants them, or do you have to have some kind of credentials to get them?

Posted On
Apr 29, 2015
Posted By
Matthew Mills

Do banks make their REO listings available to any member of the public who wants them, or do you have to have some kind of credentials to get them?

Posted On
May 29, 2015
Posted By
Oscar Simmons

Do banks make their REO listings available to any member of the public who wants them, or do you have to have some kind of credentials to get them?

Posted On
Jun 28, 2015
Posted By
Bernard Chambers

Do banks make their REO listings available to any member of the public who wants them, or do you have to have some kind of credentials to get them?

Posted On
Jul 28, 2015
Posted By
Mitchell Pearson

Do banks make their REO listings available to any member of the public who wants them, or do you have to have some kind of credentials to get them?

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