Buying Bank Owned Properties (REO) An REO (Real Estate Owned) is a property that goes back to the mortgage company after an unsuccessful foreclosure auction. Bank owned properties and FORECLOSURE properties may be great opportunity for your next home or investment. The bank now owns the property and the mortgage loan no longer exists. The bank will handle the eviction, if necessary, and may do some repairs. A buyer can gain some protection by hiring an inspector to thoroughly check the roof, pipes, and foundation, although even a good inspector can miss something. They will negotiate with the IRS for removal of tax liens and pay off any homeowners association dues. As a purchaser of a REO property, the buyer will receive a title insurance policy and the opportunity to investigate the property. If you are a 1st Time Home Buyer and do not have the financial ability or don't know how to purchase and renovate these properties, don't worry you have come to the right place. Even homes in good shape may come with surprises, but buyers are willing to brave such surprises to find a foreclosure or short sale property. This may be great opportunity for your next home or investment property. Stop paying rent and start saving money buying a home ten's to hundreds of THOUSANDS below market value !!! We are here to help; we do honest business and help you in many ways possible to achieve your investment and personal goal. Walking in and around a bank-owned property is especially important because they're typically sold "as is" condition, and lenders can be exempt from normal disclosure requirements. Unfortunately, short sales are a reality for home owners who owe more than their property is worth. If you have patience, persistence, and a knack for problem-solving, this niche could be for you. The most important duties we have is educating clients and future clients about various aspects of the real estate market. Our goal is and has been to provide quality service to you and all clients. A long-term relationship based on trust and results are the experience we wish to provide you. With more than 15 years of real estate experience the team makes sure that each property gets personalized attention and provides clients and customers with attention and professional service. We welcome your questions and look forward furnishing you with support and dispositions of REO properties. Just call us and get pre-qualified thru our preferred lender and start saving thousands of dollars investing in your own home today!
