Bank Owned Properties, Real Estate Owned or REO, as they are known in real estate terms, are homes that have been foreclosed on by banks and are placed back into the real estate market.  Usually managed by an Asset Manager, and listed by a local real estate professional, these homes can typically be a great bargain.  They do vary in condition, and are typically priced competitively at the current market price.  Expect some homes to need some minor repairs such as paint and carpet, and in some cases, may need extensive repairs.

Banks typically do sell properties as-is — but you will have the opportunity to do inspections during the due diligence period to assure this is a property that is to your liking.

I am a local expert in dealing with bank owned properties.  Give me a call to schedule a comprehensive evaluation of your real estate needs, and find you the right bank-owned property today.