Remove Closing Remove Inspection Remove Inspection contingency Remove Real-estate owned
article thumbnail

13 Steps to Buying a Bank-Owned Foreclosure

HomeLight

The home is now bank-owned (sometimes also called REO, or “real estate owned”). Usually when shopping for a home, you contact a real estate agent, they help you identify properties you might be interested in, you visit those properties, and then when you find one you like, you make an offer.

Banks 78
article thumbnail

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

HomeLight

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. Mary Stewart. Mary Stewart. Years of Experience.