Some of the best deals on the market are properties that have been foreclosed and then put on the market by the lending institution that currentlyÂ holds title. In the industry they are known as REOs. It is best to verify that title has actually been conveyed back to the lender selling the property before entering into a purchase contract because there have been some cases where the transaction gets stalled because of title issues.
These properties are usually aggressively priced in order procure a quick sale. If you can find a foreclosure/lender sale in a neighborhood, or condo/townhouse project that suits your fancyâ€”and move on it quicklyâ€”you will probably get a good deal.
This is a bank owned foreclosure 3 bed/2.5 bath home inÂ Waikele listed at $599,900 (MLS# 1101194)
I have created a sample gallery of someÂ active listings of foreclosed propertiesÂ that are currently being offered for sale by lenders. I keep track of foreclosures that come on the market dailyÂ for my clients.
If you would like more information on foreclosures contact me.