Las Vegas bank owned propertiesWhat is a bank owned property or REO property and are they a good buy?

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What is a bank owned property or REO property and are they a good buy?

 

Simply stated, a bank owned property is a property that is owned by a bank or mortgage company after they are forced to take a property back from a borrower through foreclosure proceedings. REO is an acronym that stands for real estate owned. Recent increases in foreclosures in the Las Vegas real estate market present great opportunities for buyers. When lenders own these properties they are motivated to sell them as quickly as possible to recoup their investment. These properties are generally priced below market value to move them quickly. So yes, these properties are generally a good buy. For more information or assistance finding bank owned properties call eHome Realty at 702-235-8047

Date: Sunday, November, 25th 2007 @ 01:36:46 AM
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