Category: REO

What to know when buying a HUD Home

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There are many misconceptions about HUD homes, and more specifically, buying a HUD home. What type of property is this? It’s actually simpler than you may think, and these types of  homes can often be a great deal. HUD homes have been acquired by the government due to foreclosure on a FHA-insured mortgage. In order … Continued

Do I need a big down payment to buy an REO property?

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In housing markets when inventory is limited, many buyers consider foreclosure or REO (bank-owned) properties. The process for buying these types of homes isn’t all that different than traditional sales and you can often times find properties for below market value. But what about the down payment? Here we’ll give you the breakdown of what … Continued

Avoid these Errors when Buying a Short Sale

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Short sales can be a fantastic deal for buyers – especially in areas where inventory is low (like Denver!) While they can take a bit longer than tradition sales, the process isn’t all that different or more challenging than purchasing any other property – if you avoid common mistakes. Below are a few things you’ll … Continued

Advantages of Investing in an REO Property

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Real estate owned (REO) properties can be a fantastic investment opportunity for buyers who either want to resell the property for profit or rent it out long term. It’s important to hire an experienced agent who can help you navigate the process, but there are definitely a few advantages to investing in a bank-owned property. … Continued

Benefits of Buying a Short Sale

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For sellers, short sales are a favorable alternative to entering the foreclosure process. In a short sale, homeowners agree to sell a house for less than the amount owed on the mortgage loan. This type of sale requires the lender to approve of the deal. In addition to helping the seller protect their credit, short … Continued

Tips for Buying a Foreclosure

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If you’re in the market for a foreclosure, there are definitely deals to be found in the Denver metro area. While this type of transaction differs from traditional home purchases, the process doesn’t have to be as challenging as you may think. Here’s we’ll cover some tips that will help you navigate your way through … Continued

What’s the Difference between a HUD Home and a Bank Owned Property?

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If you’re considering foreclosure properties in your house hunt in Denver, you’ve likely seen HUD listings as well as bank-owned (REO) properties. While there are similarities in these types of homes, the process for buying them is a bit different. Here’s we’ll give the breakdown on how HUD homes and REO homes differ. HUD homes … Continued

Can First Time Buyers Purchase a Distressed Property?

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In especially hot real estate markets like Denver, many buyers are shifting their attention to non-traditional home sales, including short sales, foreclosure properties and REO (bank owned) properties. You may be wondering if first-time buyers are well-suited to purchase these types of homes, and while you may encounter a little competition, distressed properties are a … Continued

How Long do Short Sales Take?

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With a name like “short sale”, you’d think the process would be quick. The “short” in “short sale”; however, actually refers to the amount of money the bank is willing to accept for it. In short sales, homeowners can no longer make payments and the bank agrees to a price that “falls short” of what … Continued

Inspecting your REO Property

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REO (bank-owned) properties can be a great opportunity for first time buyers and investors as well. You often hear how important the inspection process is for these types of homes because they are typically sold as-is. Depending on the condition of the home, you may have to only make a few cosmetic repairs/replacements. Other REO … Continued