Bank Owned Houses
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 bank owned property
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
are 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.