Bank owned homes
for sale have become a very popular option
for potential home buyers and investors. Across the country, an
astounding number of homeowners have been forced to enter into
foreclosure, losing their homes to the bank or lender. As a
result, there are more bank owned properties for sale -- also
known as Real Estate Owned (REO) -- than ever before. These
properties create a great opportunity for home buyers to purchase
real estate at a discounted price that's significantly lower than
the current market value prices.
Banks and other lenders don't want to own properties for
long, since these vacant homes aren't bringing in any money for
the lenders. Plus, they don't want to incur the costs of
maintaining homes. Therefore, lenders are highly motivated to sell
quickly and are eager to offer many major
advantages to home buyers.
What are some of the perks to buying bank
owned homes for sale? REO properties
usually priced lower than the original loan amount, because they
exclude expenses such as attorney fees and interest. Plus, lenders
will pay for back taxes, liens and HOA fees owned on the home.
Lenders take care of the eviction of former homeowners,
and buyers have immediate access to the home for inspections and
appraisals. It's much easier to negotiate a better price for
repair costs, closing costs, etc. with bank owned real estate.
Whether you're a first-time home buyer, a seasoned
investor, or you're looking to finally get that vacation home
you've been dreaming about, you're likely to find an amazing deal
with bank owned Houses
for sale. And Hubzu.com is a great
place to start. You'll find detailed information, photos, and
documentation on listed bank owned properties to help you make an
informed decision. Plus, you can see what other people are bidding
for a property and what the highest bid is. You can feel confident
you're getting a great deal.