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BANK OWNED/REO HOMES FOR SALE
REO stands for "real estate owned." These are properties in which the bank took possession of the property to sell because they didn't sell at Auction due to the foreclosure. These homes are discounted between 10-20% less than market value. Some REO homes will be in very good condition and some will need an extreme amount of repairs and updates. It is recommended you work with a licensed agent who will refer a licensed contractor or inspector to assess the repairs necessary to estimate the cost of repairs or replacement needed to make a decision on proceeding with an offer.
Foreclosures and REO's are not required to disclose much about the condition as a traditional homeowner would, since the bank has no knowledge of the property. Therefore relying on professionals to carefully inspect the property and your agent to conduct a review of the title history is critical because it is a "Buyer Beware" transaction and can be a long process. The most important thing in finding a foreclosure property is working with a real estate agent highly skilled in these negotiations and communicating to the buyer of what lies ahead.
Latest Wake County REO's
North Raleigh townhome close to 540, Capital Blvd, 401. Two upstairs master suites ea with their own master bath. Open family room/kitchen. Fireplace, private patio in re...
- 2 Beds
- 3 Baths
- 2289751 MLS
- ACTIVE Status
Very roomy! One bedroom (could be office) is located on the main level with master bedroom being upstairs. The master is over sized. The home also features entry foyer wi...
- 5 Beds
- 3 Baths
- 2288721 MLS
- ACTIVE Status
Wonderful, recently renovated , two story home nestled in the heart of Wake Forest. Private back yard. Large family room with built ins and fireplace. Step-up Owners suit...
- 3 Beds
- 3 Baths
- 2286763 MLS
- ACTIVE Status
You're going to love this home and all the possibilities it provides. Large 3 bedroom (office could be bedroom #4) w/ large bonus room, walk up 3rd floor attic, large ope...
- 3 Beds
- 3 Baths
- 2286314 MLS
- ACTIVE Status
Amazing opportunity close to Falls Lake. This luxury brick home is priced substantially under tax value and offers covered rear porch, 2nd story balconies. 4 bedrooms, 4....
- 4 Beds
- 5 Baths
- 2285414 MLS
- ACTIVE Status
Great opportunity to own this 3 bedroom 2.5 bathroom single family home. This property built in 1994 has approximately 2,354 square feet of living space on a 1.04 +/- acr...
- 3 Beds
- 3 Baths
- 2283909 MLS
- ACTIVE Status
Fabulous estate home in upscale MacGregor West. 4 beds w/ en-suite baths Choose upstairs or downstairs master suite. 12' ceilings, kitchen w/ stacked ovens & dual dishwas...
- 4 Beds
- 6 Baths
- 2273532 MLS
- ACTIVE Status
House is located in cul-de-sac. Built in book shelves and desk downstairs. Walk-in closets in bedrooms. Spacious home with beautiful outdoor space with covered patio. It...
- 4 Beds
- 5 Baths
- 2224641 MLS
- ACTIVE Status
Listings provided courtesy of Triangle MLS, Inc. of NC, Internet Data Exchange Database. Information deemed reliable but not guaranteed. © 2019 Triangle MLS, Inc. of North Carolina. Data last updated .