Real Estate Owned (REO) Properties

If a foreclosed home is not sold at auction, the lender will legally repossess the property and record it as a nonperforming asset, or REO (real estate owned). REOs are then listed for sale at the lower end of the market value. This is an excellent opportunity to purchase a Bay Area property under market value, as long as the buyer is willing to accept the property in “as is” condition.

Buyer Advantages

  • Because the property can be visited and inspected, the buyer does not have to make an offer sight unseen.
  • A Bay Area property can be purchased on the lower end of the market value.
  • With a down payment, the purchase can be financed by the buyer’s lender. It is not necessary to pay all cash.
  • Once your offer is accepted, the closing can happen quickly, usually within 30 to 45 days.

Buyer Challenges

  • REOs are offered by the lender holding the title in “as is” condition. The lender is exempt from disclosing the property condition and is not responsible for any fix-up costs.
  • Extensive requirements demanded by the lender to even consider an offer. Some lenders even require the buyer to be pre-approved by them.
  • High competition for REO properties with many buyers making offers results in a bidding war.

We Support Buyers and Investors

  • We help you analyze the value of the property and determine if it is a wise purchase for your dreams and goals.
  • We have extensive experience with the lenders holding REO properties. Because we understand what lenders are looking for in an offer, we can help you prepare a winning bid.
  • We can help you prepare every step of the way to ensure you gain the property you want.
  • Referrals to reasonably priced quality contractors to make necessary property improvements.

Start the process today. Review our pre-sorted REO listings. Call 415.412.8721 to schedule ashowing and help prepare your offer.