Why Should I Buy A Buy Bank-Owned REO?

One of the primary advantages of buying a bank-owned REO property is that investors are purchasing a property without liens or other encumbrances. Before lenders make REO properties available for sale, they typically expunge all liens or claims against the property. Any cloud on the title — a second or third mortgage, mechanics liens, taxes or any other liens attached by creditors — are wiped out. Moreover, we can negotiate with the lender’s loss mitigation department to discount the price to a fraction of its market value. Besides negotiating price, we are sometimes able to also negotiate favorable lending terms below existing market rates.

 

For further details click here.