REO PROPERTIES AT GREAT PRICES!
Typhoon International buys REO Properties in bulk every month, and we know how to handle them. We have the best buying power in the industry!
WHAT IS REO PROPERTY?
According to WIKIPEDIA, an REO PROPERTY is defined as follows:
As soon as a property goes into a distressed status (the borrower/home owner misses mortgage payments) the beneficiary will want to determine the amount of equity that the property has. A popular method to determine the equity is to obtain a Broker’s Price Opinion (BPO) or order an appraisal. Based on the amount of equity that is determined from the BPO, the bank will decide whether to allow a short sale (if requested by the homeowner). If no short sale is requested by the home owner, the beneficiary will continue the foreclosure process. If the beneficiary is unable to sell the property through a short sale or at a foreclosure auction it will now become an REO property.
After a repossession from which the property becomes classified as REO, the beneficiary will go through the process of trying to sell the property on its own or obtain the service of an REO Asset Manager. The beneficiary will remove the liens and other debts on the home and try to resell it to the public, either through future auctions, direct marketing through a real estate broker, or by itself. Real estate investors will often purchase these properties because of discounts offered to compensate for the condition of the property.
If you are interested in taking advantage of our industry leading buying power, and buying multiple foreclosed homes, commercial buildings or lots, give us a call and we can talk about a strategy that will make sense for your given circumstances.
Dealing with Foreclosures in bulk is not always straight forward. There are problems that come up, and it can be challenging when you deal with multiple houses.
We have training and mentoring programs and Real Estate Classes available for our bulk buying customers.
Buying REO Foreclosures in bulk is a big commitment and the good news is Typhoon International are THE experts!