If you are ready to buy a home or invest in real estate, bank-owned home sale listings in Texas may be a source of homes priced below market value. Your first step is to find listings.
If you are ready to buy a home or invest in real estate, bank-owned home sale listings in Texas may be a source of homes priced below market value. Your first step is to find listings.
Bank owned homes, also called real estate owned (REO) properties, are typically foreclosed homes that did not sell at an auction. A lender may choose to sell a home outright rather than auction it, however. Depending on the lender, the property may be well maintained or in disrepair. It's important that you research any bank owned properties so you are aware of the home's condition before you make an offer. Texas REOs are usually sold as-is.
You can find bank owned home sale listings in Texas on the websites of banks, mortgage lenders, realties and government agencies like the U.S. Department of Housing and Urban Development. For a list of bank and government agency websites with Texas REO listings, go to this article.
Most of these websites allow you to search by state, counties and towns throughout Texas, including Athens, Corpus Christi, and Lubbock. Click on the area that you're interested in, and you'll land on a page listing the bank owned properties in that area. Each listing includes detailed information about the home, including the number of bedrooms and bathrooms and the listing agent's contact information.
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You may also get Texas real estate bank owned home sale listings from a real estate agent who specializes in foreclosed homes. Agents and real estate brokers often work with lenders to sell their Texas REOs, so they know of these homes before they go on websites. An agent can also help you view the home, arrange an inspection and negotiate price with the lender. If you want to bid on a HUD home, you will need a HUD-approved agent to place the bid.
Ready to shop? Check out Reply! for free listings of Texas REOs. When it comes to bank owned home sale listings in Texas, you have several from which to pick.