Category: REO

Is a Cash Payment Required for a Foreclosure?

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If you’re considering buying an REO (real estate owned) or foreclosed property, you may be under the impression that you have to pay for it all in cash. While there are many benefits to an all-cash purchase, it’s certainly not realistic for many buyers. While any amount of cash you can put down for a … Continued

What is a Bank-Owned Property?

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If you’re in the market for a home in the Denver area, you’re probably entertaining a lot of options. Because demand continues to grow, you might be checking out condos, single-family homes, custom homes, real-estate (bank) owned properties – you just never know where you might find your dreams. Supply is low in Denver, while … Continued

Pitfalls to Avoid when Buying an REO Property

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While real estate owned (REO) or bank owned properties can be a great deal and good way to break into homeownership, there are mistakes to avoid to make the process as seamless as possible.If you’re considering purchasing an REO property, make sure to avoid the mistakes below. Mistake 1 – All foreclosed homes are bargains … Continued

Can I buy a HUD Home as an Investment?

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HUD homes can be a great deal for owner-occupant buyers and investors alike. However, if you’re considering a HUD home for investment purposes, you’ll have to wait your turn. If you’re not familiar with this type of property, a HUD home is when a government-insured loan (FHA) gets foreclosed and the Federal Housing and Urban … Continued

Should I Buy a Distressed Property?

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The term “distressed property” may conjure up images of unsightly houses that appear dilapidated and beyond repair. However, the term really isn’t as scary as it may seem. Distressed housing simply means a home that’s fallen into a short sale situation, foreclosure or is an REO (bank owned) property. While it’s true that sometimes these … Continued

Different Stages of Foreclosure

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If you’ve been doing some online house hunting, chances are you’ve seen a few foreclosure terms that you may not have been aware of. Homeowners fall into potential foreclosure situations for a variety of reasons. There are also a few stages they go through before ultimately reaching foreclosure. Here we’ll break down the different types … Continued

What to Expect when Buying a HUD Home

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          Purchasing a HUD home can be a great deal; however, before taking that leap it’s important to educate yourself about the process and do your due diligence. Here’s we’ve put together a general outline of what to expect during the HUD home buying process. Find the right agent Only real … Continued

Avoid These Mistakes when Buying a Short Sale

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Purchasing a short sale can be a great way for buyers to break into homeownership. While the process can take a bit longer than traditional home sales, buying a short sale is appealing to many buyers for primarily one reason: price. While it’s possible to get a short sale at a great price, there is … Continued

Debunking Foreclosure Myths

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If you’re considering buying distressed property such as a foreclosure, you may have heard some myths about these types of listings. Here we’ll set the record straight on what you may or may not heard about investing in a foreclosed home. Myth 1: You must pay cash for a foreclosure This myth can actually be … Continued

What are the differences between a short sale and foreclosure?

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If you’re considering distressed properties – short sales, REO homes, foreclosures, etc. – you may be overwhelmed by the terminology and wondering the differences between these types of sales. While they all fall under the “distressed” umbrella, there are differences in each of these types of properties. Here we’ll give you a rundown of the … Continued