Thinking about buying a bank owned property? Watch this short video first

author Adam Iobst   9 год. назад
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🎥 Bank Owned Homes - What You Need to Know Before Buying a Bank Owned Property

I go over what you need to know when buying bank owned homes. I give you the ins and outs as well as some money tips when buying from banks. Contact me at http://www.tampa2enjoy.com/contact-us/ Bank owned home accrue after an unsuccessful sale at a foreclosure auction. The banks beneficiary will usually set the opening bid at a foreclosure auction for at least the outstanding loan amount. If there aren't buyers that are interested in the home, then the beneficiary will legally repossess the property. Bank owned homes are also referred to as foreclosed homes or REO (Real Estate Owned). A lot of people confuse a foreclosure with a bank owned home. A foreclosure is not a bank owned home. Foreclosure is the legal process of the bank foreclosing on a home. Once the home has been foreclosed on it's a bank owned home (foreclosed home). A lot of people also confuse the foreclosure / short sale process with the bank owned / REO process. Nothing can be further from the truth. A short sale is a nightmare that can take months (3-6) for the bank even to respond to your offer. While a bank will usually take only 2-5 days. WOW! Big difference. Check out this video so you have a better understanding of what you need to know when buying a bank owned home. Plus - near the end of the video I give some great information you need to know before you buy any bank owned property. View all Bank owned homes in Tampa, FL: http://www.tampa2enjoy.com/search-homes/foreclosed-homes-in-tampa/ Learn more about the bank-owned home process at: https://en.wikipedia.org/wiki/Real_estate_owned Please contact me if you have any questions. Sincerely, Lance Mohr Mohr Home Group at Keller Williams 813-317-4009 http://www.tampa2enjoy.com https://www.youtube.com/tampa2enjoy

WORST Way to Invest in Real Estate

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Listen as Adam Iobst of A-Team Realty, LLC explains the "in's and out's" of purchasing a bank owned property. Enjoy the show.

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