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Listings last updated NOVEMBER 14, 2008
Reo , Real Estate Owned , or better known as bank owned properties.
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ALAMEDA COUNTY REO LISTINGS
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CONTRA COSTA COUNTY REO LISTINGS
DANVILLE AND ALAMO REO LISTINGS
LAFAYETTE , ORINDA AND MORAGA REO LISTINGS
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Interested in tracking the forclosure process from notice of default to courthouse auction and finally to becoming a bank owned property?
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Remember the REO's that are priced well ..go quickly and many times with multiple offers.
What’s an REO?
REO stands for “Real Estate Owned”. These are properties that have gone through foreclosure and are now owned by the bank or mortgage company. This is not the same as a property up for foreclosure auction. When buying a property during a foreclosure sale, you must pay at least the loan balance plus any interest and other fees accumulated during the foreclosure process. You must also be prepared to pay with cash in hand. And on top of all that, you’ll receive the property 100% “as is”. That could include existing liens and even current occupants that need to be evicted. A REO, by contrast, is a much “cleaner” and attractive transaction. The REO property did not find a buyer during foreclosure auction. The bank now owns it. The bank will see to the removal of tax liens, evict occupants if needed and generally prepare for the issuance of a title insurance policy to the buyer at closing. Do be aware that REO’s may be exempt from normal disclosure requirements. In California, for example, banks are exempt from giving a Transfer Disclosure Statement. The bank will not fix anything. It will be an AS IS sale, however you can get your own inspections and due your own homeowork on that property within the contigency period, so you know what you are buying.
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This information is deemed reliable, but not guaranteed:
All properties listed here are represented by other brokerages/agents.
All information is updated every Monday
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