Mortgages & Creative Financing

Benefits of Buying a Bank Owned Property (REO)

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REO stands for real estate owned. This term is used when referring to a home that has gone through the foreclosure process, failed to find a buyer at the auction, and is now owned by the bank. One of the benefits of buying a bank-owned REO property is that investors can purchase the home free [...] View the full article: Benefits of Buying a Bank Owned Property (REO) on The BiggerPockets Blog. This content is Copyright © 2017 BiggerPockets, Inc. All Rights Reserved.

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    Clint
    Replied over 11 years ago
    Nice article, I didn’t know that REO’s were sold in a bundle like that. I haven’t looked for one myself, but I thought they could be bought very easily by individuals, guess I was wrong.
    Rob Lawrence
    Replied over 11 years ago
    Bank owned properties are one way to go, but don’t forget about FSBO’s and even turn downs on hard money deals. These properties are on the market too and oftentimes you can nab 1 at a great price below market. Anyway, that’s just my 2 cents. Warm Regards, Rob Lawrence
    taylor
    Replied over 11 years ago
    Great information, you have to be careful with reo’s, the bank sells them in as is condition, but you can realy get a good deal. http://www.agentbrokerforum.com
    taylor
    Replied over 11 years ago
    Great information, you have to be careful with reo’s, the bank sells them in as is condition, but you can realy get a good deal. http://www.agentbrokerforum.com Reply Report comment
    REO Properties
    Replied over 11 years ago
    This site may be of interest to some of you. If it has not changed, it has some information on REO property. http://www.reohud.org Happy Investing
    Clifton Pape
    Replied over 11 years ago
    Great informative post! This will be a growing section of the market place over the next several years. Investors need to take note of it and start doing thier research today so that they are ready. What a timely article!
    Real Estate Resource
    Replied about 11 years ago
    Excellent post. Yes those are the advantages in buying a REO properties. In REO you can avail the benefits of low property prices, low down payments and interest rates. -Jan
    Annie
    Replied about 10 years ago
    In most cases, the bank that owns a foreclosed home only requires a portion of the outstanding balance to reconcile the debt on a mortgage loan. This means that bank owned homes are generally available at up to half off the real market value of the property.
    Annie
    Replied about 10 years ago
    In most cases, the bank that owns a foreclosed home only requires a portion of the outstanding balance to reconcile the debt on a mortgage loan. This means that bank owned homes are generally available at up to half off the real market value of the property.
    RW Spurlock
    Replied over 8 years ago
    Thank you for allowing me to post this comment on your site. If you visit my site and post a comment I will approve it thereby providing a linkback to your site from mine. On this occasion my opinion is that the banks should be stopped from enjoying the remedy at law foreclosure. They, the banks are the cause of the problem, they knew what they were doing, they knew that these jumbo loans they were granting were going to go south and they knew that the federal government would bail them out with tax money to some extent provided by those being foreclosed against. I for one think the entire matter stinks of home cookin’.
    Daniel
    Replied about 2 years ago
    Someone mentioned to me that real estate was a great investment to make because people would always need space. I like what you said about how there are many opportunities for investors to buy bank owned properties, and that more often than not the space has been prepared and cleared before selling. It makes sense that someone wanting to turn a profit off of their investment would want to do something like this because they would make an initial investment and immediately have properties that they could make income from.
    Daniel
    Replied about 2 years ago
    Someone mentioned to me that real estate was a great investment to make because people would always need space. I like what you said about how there are many opportunities for investors to buy bank owned properties, and that more often than not the space has been prepared and cleared before selling. It makes sense that someone wanting to turn a profit off of their investment would want to do something like this because they would make an initial investment and immediately have properties that they could make income from.