Bank owned properties go by many names, and are often regarded as some of the best values in real estate. This may sometimes be the case, since the bank is rarely under the illusion that the property is worth more than the market value.
Bank owned properties often times go by the following names:
HUD Homes -foreclosed homes previously financed by the Federal Housing Administration (FHA) become owned by the US Department of Housing and Urban Development.
REO - stands for real estate owned. Occasionally the term "ORE" is used instead meaning "owned real estate"
Distressed sale - having been foreclosed on, the property is known as distressed.
VA Homes -- homes financed through the Veterans Administration are transfered to the Department of Veterans Affairs for sale similar to HUD homes.
FDIC Homes -homes owned by banks (REO) become FDIC owned if the bank assuming a failed banks assets chooses not to accept their REO portfolio.
The Premier Team has worked with hundreds of buyers in their efforts to buy undermarket homes and condos. Contact us today to discuss your real estate goals!
The BEST way to begin your search is to talk to an experienced buyer's agent with the Premier Team, but if you're just looking around, we hope our site is helpful!
Not only can the Premier Team set up custom MLS searches specifically tailored to your needs, our experience working with St Louis home buyers is an asset to a new home buyer. There is no charge for MLS searches, or for working with a buyer's agent at Premier Realty Exclusive and the savings of time, energy and money are incredible.
Call today at 314-772-4868 and talk to a Realtor about your St Louis home buying strategy!
Finding the best St Louis real estate deals takes hard work, experience and luck. The chances of a home buyer finding a home for sale, recognizing the value, and negotiating all phases of the contract without a real estate professional would be tough.
Having enough time to search, having the real estate resources to find and recognize the value, and the network of other professionals to pull the deal together are things that Realtors develop and maintain over years of experience and hard work.
A buyer being able to "fall into" position to get the best price and other terms would be a feat.
The Premier Team recognizes this and works hard to be a top resource for St Louis home buyers.
Selling a home is equally difficult. After years of home selling experience, the Premier Team has worked with hundreds of buyers and has recieved the buyer feedback of thousands more.
We bring this knowledge into every listing appointment to share with St Louis home sellers.
Home selling also takes daily marketing to place homes in front of home buyers and other buyer's agents to have the most impact. A "For Sale" sign in the yard and an add in Sundays paper for a "by owner" sale rarely works, and getting the best price is virtually impossible. Most often, a St Louis real estate professional is needed.
Call us today for your St Louis Real Estate needs at 314-517-5050 or 314-518-9003