11247 Old Halls Ferry Road, St Louis
Foreclosure Sales in St Louis
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!
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