While most consumers are at least aware of foreclosure auctions, they might not be aware of programs like Real Estate Owned (REO) properties that exist on the far end of the foreclosure spectrum. It instead requires a professional REO real estate office, like Casa Real Properties, to help navigate the process.

Understanding Foreclosure

Bank foreclosures are a complicated process. Most people understand them on an elemental level; if you default on your mortgage payments, the bank repossesses your home. From there, they will try to sell it at auction. The lender’s goal is to salvage as much value as they can from the property. In the interim, they may allow the borrower to short sell the property to provide partial repayment to the bank, but what happens when they can’t sell it in a timely manner? It becomes a bank-owned home.

An REO property isn’t good for the bank, though. The longer they hold onto the piece of real estate, the less money they will likely recoup against the original loan. The bank must figure out how to offload the property or risk it becoming another stagnant liability on their institution’s books.

With Casa Real Properties’ help, banks can successfully offload their properties to sell, leveraging our network of qualified buyers. We service both buyers and banks to ensure the best possible deal is made on both ends.

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The Benefits of Purchasing REO

Investing in a bank-owned home is beneficial to both the bank and the potential homebuyer. From the bank’s perspective, an REO property represents an anchor weighing down the bank’s operations and impinging upon their profitability. Wise institutions know that working with an experienced REO real estate agent can help them offload the property much more quickly.

The benefits to the potential homebuyer are more numerous. With a bank-owned home, the consumer is positioned to get an incredible deal if they are prepared to take the property as-is and apply a little effort into fixing it up. REO properties are free from encumbrances like liens, meaning less financial liability to the potential buyer. With a little do-it-yourself know-how, an REO property can give the purchaser a great return on investment. But securing an REO property isn’t as simple as securing a mortgage. There are a whole different set of factors and regulations to consider. That’s why it’s best to work with an REO real estate agent specializing in REO properties who can advocate on behalf of both the bank and the consumer, facilitating an expedient sale.

How Casa Real Properties Can Help

Casa Real Properties has over twenty years of experience helping banks and consumers navigate the world of short selling and REO real estate sales. Our REO real estate and short sell experts are trained and certified in the business of REO properties. We can help provide a conduit to banks that help them sell their REO properties and recoup their losses quickly. Our experience and our network help link institutions with qualified buyers quickly and efficiently.

On the other end of the spectrum, we assist potential homeowners in navigating the confusing world of REO real estate, helping them negotiate the process confidently. Our approach is based on honesty, integrity, and a desire to help both the financial institution and the consumer get exactly what they need.

If you’re a bank or financial institution in NJ looking to move REO properties out of your portfolio, Casa Real Properties can help. To get started, please contact one of our REO real estate experts today.

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