| 1) Banks are not in the business of owning property so | | | | buying one is easier with a professional realtor to help |
| they want to move their inventory fast. That will mean | | | | guide you. |
| discounts for the people who are buying. | | | | 7) You will have to buy the property as is, which can |
| 2) The average discount on property being sold in | | | | be good because the discount will be greater. |
| foreclosure or bank owned is 20% to 25% off retail | | | | 8) Discount...Discount...Discount! I just looked at a bank |
| value. This is the average just think if you can | | | | owned home worth $225,000 that sold for $129,000 |
| negotiate a deeper discount or shop around for a | | | | because it needed $13,000 rehab. |
| better bargain. | | | | 9) Huge inventory of homes that banks cannot sell |
| 3) All liens or tax issues that the property had will be | | | | because the market is bad and the foreclosure rate is |
| taken care of by the bank when they take the house | | | | through the roof. This forces the banks to sell quickly |
| back after the auction. | | | | and cheaply, I watched the price of one home drop |
| 4) With bank owned property you will be able to see | | | | $20,000 in 2 weeks. |
| the house before buying unlike real estate auctions. | | | | 10) You can buy a larger home while making the same |
| 5) Easy to find property that is bank owned just ask a | | | | monthly payment or even paying less. Utilize the low |
| local realtor to send you the listings of all bank owned | | | | interest rates and rock bottom prices to get more |
| property in the areas you want to buy. | | | | house for your money. |
| 6) Bank owned property is sold through realtors so | | | | |