Here are few things you should know…

An REO is 'real estate owned' by the bank and many investors consider an REO property to be an excellent investment opportunity.  An REO is different from a  pre-foreclosure property in that the bank has already tried to sell the property at a foreclosure auction but was unsuccessful in obtaining the minimum price.  Since the property did not sell through the bidding process the bank took back title and became the owner of the property.  Naturally, the bank does not want to keep these properties any longer than possible so often times they make great buys for investors or consumers.   

If you are looking for foreclosure (REO) listings for investment purposes or are a First Time Home Buyer wanting to purchase a foreclosure, please register below to see ALL LISTED FORECLOSURES IN SHASTA COUNTY.

A couple of things to keep in mind.  Buying foreclosures and dealing with the banks requires special knowledge....knowledge and experience that we have a lot of.  To succeed in this arena and to get the absolute BEST deals be sure to deal with a seasoned and experience agent who knows how to deal the banks.

Also....and very important, be sure to be pre-qualified by a lender before you get started.  If you are not fully pre-qualified, banks won't even look at your offer!  Call us for our preferred list of mortgage brokers.

If you have any additional questions about how to purchase bankruptcy, and bank owned properties please fill out form below and we will be happy to help you.

Advantages of Buying Bank Owned Property (REO'S)!

• All liens against the property are 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 poor condition, REOs are typically restored to at least a readily sellable condition by the lender.
• The bank or lender that owns the property will often offer financing with better deals then they would offer on traditional properties.
• The bank or lender that owns the property will often provide an funds for certain repairs.
• You can save money in your title search if you use the same title company that the lender used during foreclosure. They will often discount the cost as much as 100%!
• REOs will often times include appliances
• While in hot markets, you may not see a difference in price between an REO and a typical property, during slower markets, you can purchase REOs at substantial discounts.