Real estate buying bank owned is a strategy many investors and home buyers are using to purchase discounted foreclosure properties. It is also used by business owners seeking bank owned commercial real estate when expanding or starting their company.
Real estate buying bank owned can save buyers upwards of 30-percent off the property’s novel market value. Although foreclosure real estate frequently requires repairs, these costs are factored into the asking price. Buyers often must apply for high-interest construction loans to veil costs of distinguished repairs and refinance mortgages when construction is complete.
Currently, government-sponsored programs exist which can help buyers establish additional money when buying bank owned properties...Read More