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13 Steps to Buying a Bank-Owned Foreclosure

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The home is now bank-owned (sometimes also called REO, or “real estate owned”). As you weigh your options, really take a close look at which of your top choices offers the best value overall and which one might allow for significant gains in sweat equity via easily implemented corrections. Step 14: Closing time!

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Buying Foreclosed Homes for Dummies in 11 Steps Even You (Yes, You!) Can Do

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Generally, lenders will take much less than top dollar for a foreclosure, which is good news for anyone looking to score a deal on real estate. Real Estate Agent. Real Estate Agent at Compass RE Texas. Real-estate owned (REO) homes. That means one loan and one closing.