Bank owned properties dominate the headlines in today's real estate world. Rightfully so, they are setting the pricing standards in most areas while comprising roughly 20%-70% of the current closed sales for many areas in our Nation. Here are a few recommendations for sellers that want to sell in this market and what they can learn from their bank owned competitors. [viddler id=d35e19f1&w=437&h=368] The key point here is that banks have to sell their properties. They are willing to take much less than … [Read more...]
Buying An REO or Bank Owned Property? Make Sure You Read The Fine Print.
June 24, 2008 by 2 Comments
Given the current real estate climate, bank owned or REO (real estate owned by banks) properties have become highly sought after by today's buyers. Whether or not they ultimately end up purchasing one, most buyers are starting off with this thought in mind. Naturally, these buyers are looking for a deal and most bank owned properties fit this category perfectly. It is not uncommon to see Big Bear REO properties selling from 75 to 90 cents on the dollar as compared to similar homes on the market. While buying a … [Read more...]
