How Do You Find A Listing Of Bank-Owned Homes?
Banks and other mortgage lenders regularly publish auction announcements for homes that these institutions have repossessed through the foreclosure process. These auctions, known as “Real Estate Owned” (REO) sales, allow investors and home buyers to pick up foreclosed properties at below-market rates. You can find announcements of these sales in local newspaper advertisements and real estate publications as well as from the lenders themselves. Step 1 Avoid paying companies for REO listings in your area. These companies simply contact banks and other lenders to ask them about REO properties and then relist them at a profit to underinformed potential home buyers. In some cases, these websites are little more than scams offering out-of-date listing information that may not even be relevant to the community in which you would like to purchase property. Step 2 Contact banks and credit unions in your area and ask for listings of REO properties. If your community is large enough and there are
