REO properties can be a great deal because banks are eager to get them off their balance sheets.
But it’s important to know what you’re getting into. Foreclosures may need extensive work, and most REO properties are sold “as-is.” That means you’ll be responsible for any issues and might be on the hook for expensive repairs.
Banks usually require that prospective buyers work with a real estate agent and have financing lined up before they make an offer.
If you’re looking for a great deal on a home — whether it’s REO or not — we can help. Reach out for a free consultation.
