PURCHASING AN REO PROPERTY

General Information

Our bank foreclosures sell, on average, in 90 days or less. They are priced competitively in the marketplace. It is not unusual to have more than one offer at the same time and you will be notified of a multiple offer situation.

Pre-qualification

Before submitting an offer, you should have either your prequalification from a lender or proof of funds. Many sellers will not negotiate without this documentation.

Earnest Money

1% — Homes minimal under $100,000
2-3% — Homes over $100,000

Disclosure

The seller or 3rd party did not occupy the subject property. Therefore no disclosure is provided. You DO have the right to an inspection without any obligation for the seller to make repairs.