Whatcom Home Stats: Buying Bank Owned Properties - Advantages of REO's

Buying Bank Owned Properties - Advantages of REO's

Buying Bank Owned real estate can be a great way to get a good deal on a home/property.  In order to make sure it is a good deal you need to work with an agent who specializes in this arena.  There are many advantages and downsides of buying a bank owned properties, part one of this series will be the advantages of buying bank owned real estate.

Advantages

*  When you buy a bank owned property you are usually able to buy at a great sq. footage price, which is how you should buy any home if you're buying with investment standards.  $100/sq. ft. is a great price!

*  Once a property becomes bank owned, all liens that were a result of the foreclosure are wiped off and back taxes are paid.

*  Banks will sometimes offer financing on the property with better terms than a normal buyer because they want to get rid of the property, but keep the asset and earn interest on their money.

Specializing in  Bank Owned properties, Preforeclosures, Seller Financed Properties, and Lease Options in Whatcom and Skagit Counties.

 

Comment balloon 0 commentsTara Camp • September 12 2008 07:55PM

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