BANK OWNED HOMES

 

There is an abundance of Bank Owned Homes and REO (Real Estate Owned) homes on the resale market.  Lenders price their properties at the lower end or below market value to encourage multiple offers and a quicker sale.

 

Banks typically are looking for closer to asking price on homes that are new on the market. Multiple offers sometimes push up the price above asking price.

 

Bank Owned Homes that have been on the market for thirty days or longer usually have more room to negotiate. Banks are more willing to look at lower offers the longer the home is on the market.

 

Check the history on a Bank Owned Home to find out if there have been any lower price adjustments. Banks typically will not accept lower offers after a recent price change.

 

Take a look at homes that have do not have any pictures or only a front picture.  Homes without pictures often get less showings causing the bank to be open to negotiation.  

 

Don’t let a poor exterior condition of dead grass and weeds mislead you because often hidden from view is a desirable home inside that has plenty of potential.

 

Take a look at Bank Owned Homes throughout the Central Valley In San Joaquin County, Stanislaus County and Merced County at:

http://carolperdew.com/index.php/page/bank-ownedrealestate