Finding Bank Owned Properties

Friday, October 30, 2009

Finding bank owned properties is much easier than most people think. Just Google REO (and the name of the bank). Most larger banks have the homes that they took over right on their website. These homes are usually priced anywhere from 10-30% of the current market value. Banks are looking to unload these properties and are willing to accept offers. These properties are reclaimed by a bank after an unsuccessful auction. So if you are looking to purchase these homes, you need to do some research. These homes may be in need of major repair. It is a wise investment to have a licensed Home Inspector look at the house. They usually provide a detailed report on the condition of the home. Lenders are not held to the same laws that sellers are. Lenders did not live in the home. If you don't want to look through the banks website, There are services that you can subscribe to. These companies usually charge $49 per month for foreclosure listings. They break it down in simple English. They sometimes provide a picture of the home. There is currently,a record amount of foreclosure listing. Investors with cash and good credit are reaping the rewards. For more info on geting financing or a Rehab loan contact Weapprove@gmail.com

3 comments

businesscapital said...

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December 1, 2009 at 9:51 PM
Frances said...

If you wish to acquire bank-owned properties, you might need hard money loans.

December 4, 2012 at 8:35 PM
hard money said...

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May 31, 2013 at 2:28 AM

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