REO Properties: How To Find and Buy Bank-Owned Properties
AuthorAmanda Dodge. Date:
There are multiple types of distressed properties that investors can look for. As you start your investment search, you may come across REOs, otherwise known as real estate-owned properties. REO properties are homes that have gone through the foreclosure process but did not sell at auction. This means they are now owned by the lender – usually a bank or credit union. REOs provide opportunities for buyers to purchase properties below market value. You could get a good deal on a house without having to attend foreclosure auctions. However, these houses also come with risks. Buyers need to be careful when navigating the purchase process to protect their finances. Use this guide to learn more about REO properties, including how to successfully buy one. Grow your investment knowledge so you can move forward with confidence. What Are REO Properties? To understand REO properties, it helps to take a step back … Continued
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