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Government Websites, Real Estate Agents, A Drive around the Block, And More Ways to Find REO Homes in Your Area

HomeLight

If you’re in the market for real estate, either as an investment or a residence, REO (which stands for “real estate owned” also known as “bank owned”), homes can offer you a deal, but without the hassle of dealing with a foreclosure auction. Use the MLS. Source: (Roger Starnes Sr / Unsplash).

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What Is an REO Property, and How to Buy One?

Point2Homes

Real estate-owned (REO) properties, also known as bank-owned, are properties that have not sold at a foreclosure auction , and as a result, they are owned by the foreclosing bank. The main appeal of real estate-owned properties is that they can be a better deal than buying from a private owner.

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How to Buy a Foreclosure: Your Go-To Guide to Distressed Properties

HomeLight

You’re reading through a new MLS listing, and you believe you found your ideal home. But right as you’re about to call your real estate agent, you notice there’s a line in there that labels it a foreclosure. Short sales can typically be found through the MLS database or your buyer’s agent. Pre-foreclosure.

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13 Steps to Buying a Bank-Owned Foreclosure

HomeLight

The home is now bank-owned (sometimes also called REO, or “real estate owned”). Usually when shopping for a home, you contact a real estate agent, they help you identify properties you might be interested in, you visit those properties, and then when you find one you like, you make an offer.

Banks 98
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How to Sell a House from Out of State: Long-Distance Guide

HomeLight

Sometimes these are classified as REOs, or real estate-owned properties , because they’re now owned by a bank, government agency, or other lender. Plus, each reduction keeps the property at the top of the multiple listing service (MLS). “It Foreclosure. Selling Long Distance Is Hard. Our service is 100% free.

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How do Foreclosure Auctions Work? How to Find Properties, Research, and Bid

HomeLight

An online option like a real estate owned (REO) property, you’re not spending any money into it,” says Durham. You’re not spending any money into it until after you’re under contract and based on your inspection.”. The online-style auction can also help save you from spending money blindly. “An

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What Is a Short Sale in Real Estate? The Ultimate Guide

The Close

Inspect the property’s condition, title, and existing liens or encumbrances. A complete inspection and title search ensures the investor doesnt inherit existing problems. Hire an experienced real estate agent: Choose an agent with expertise in short sales for guidance.