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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
Wooded home site with multiple out buildings. Home and out buildings will need repairs. Seller will not complete any repairs to the subject property, either lender or buy...
- 3 Beds
- 2 Baths
- 2242777 MLS
- ACTIVE Status
Country setting on almost an acre of land. Home will need some repairs and updates. This property is a Freddie Mac First Look (FMFL) property with an expiration date of ...
- 3 Beds
- 2 Baths
- 2242684 MLS
- ACTIVE Status
SOLD AS IS..WITH NO REPAIRS, WARRANTY OR SELLER DISCLOSURE. BRING OFFERS.. SELLER AND LISTING BROKER ASSUME NO RESPONSIBILITY, MAKES NO GUARANTEES, WARRANTIES, WITH NO RE...
- 3 Beds
- 3 Baths
- 2241387 MLS
- ACTIVE Status
Cute ranch in town of Zebulon. Home features 3 bedrooms, 2 full baths, large living room with wood burning fireplace and hardwood floors. Kitchen has good-size dining are...
- 3 Beds
- 2 Baths
- 2239737 MLS
- ACTIVE Status
2-story brick exterior traditional with 3-car attached side entry garage. Wooded corner lot with circular driveway, Large deck & patio. Partially finished basement wi...
- 4 Beds
- 4 Baths
- 2237556 MLS
- ACTIVE Status
2-story brick front with 2-car side entry garage. Fenced backyard with in ground pool. 2-story entry. Hardwood floors & smooth ceilings. Large family room with firepla...
- 4 Beds
- 3 Baths
- 2225010 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
~ Newly renovated home ~ Corner lot ~ Fenced yard ~ Screened-in porch ~ 3rd floor walk-up ~ Spacious kitchen with island and workstation/desk ~ Large master suite with s...
- 3 Beds
- 3 Baths
- 2224037 MLS
- ACTIVE Status
Great OPEN concept Ranch plan. 3 bedroom 2 bath. Backs up to Woods. First time home buyers or investors. Needs Paint, Flooring, minor TLC. Sold "AS IS". Great Value...
- 3 Beds
- 2 Baths
- 2217368 MLS
- ACTIVE Status
Executive 6 bed w/stately presence on huge 10+ acre lot w/ formals, open kitchen/family rm, dining rm, breakfast rm, sunrm, 3 car gar, 2nd+3nd floor bonus rooms, flex spa...
- 6 Beds
- 7 Baths
- 2213793 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 .