Looking for a GREAT deal or Investing in real estate?  You may have heard you should focus on locating properties with a lot of equity at a discounted price. Even better, consider  Buying REO Properties. REOs or Real Estate Owned Properties are properties owned by a bank. These properties have gone through the foreclosure process, but no one successfully bid on them for purchase. There are many advantages to buying Bank REOs.

Opportunities with Buying Bank Owned Properties -

  • REO = Real Estate Owned (by a Bank)

  • Leins against the property are normally removed once it becomes an REO, and taxes are paid.
  • Unlike properties at foreclosure auction, REOs can be inspected prior to contract, and are listed with real estate agents.
  • While many foreclosures are often in deplorable condition, REOs are typically restored to at least a readily salable condition by the lending bank.
  • REO properties are usually listed on your local MLS and with Team Panella, where we showcase the BEST Louisville Bank Owned Properties
  • While in hot markets, you may not see a difference in price between an REO and a typical property, during slower markets, you can pick up an REO at discounts to the property’s actual value.
  • Create a great investing relationship with the bank's trusted real estate professional.  Their expertise in REO transactions gives you access to the greatest bank owned deals before they hit the market.

 

Locate the BEST Louisville Bank Owned Properties right here with Team Panella!