Foreclosure Deals

12 Foreclosure Secrets Every 1st Time Home Buyer Should Know

Taking the Mystery Out of Albuquerque Bank Foreclosures

You probably think bank foreclosure = deal. It certainly can be…but it’s not a guarantee since:

  • A bank foreclosure is a Real Estate Owned ("REO") property that a lender has acquired back through foreclosure or forfeit.
  • The property is not owned by an individual.
  • The property is no longer a short sale and is no longer in foreclosure.

Since a bank owns the property, and not an individual, all kinds of unique issues can crop up during both the offer stage and closing stage of buying an REO property. Our “12 Secrets to Buying REO” shows you how you can tackle these obstacles and ensure your bank foreclosure find turns in to the (profitable!) home of your dreams.

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