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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
2 story traditional home located in Griffis Glen subdivision in southeast Raleigh is close to many amenities. Backyard has patio and is fenced. Auction event will begin 7...
- 3 Beds
- 3 Baths
- 2264273 MLS
- ACTIVE Status
Handyman special! Bring your paint brushes and flooring to update this home for your tastes and build sweat equity. Great location and great bones. Just a little TLC w...
- 3 Beds
- 3 Baths
- 2263674 MLS
- ACTIVE Status
Beautifully appointed townhome in Bedford at Falls River with brand new paint, carpet and laminate flooring. Spacious living room with fireplace; kitchen has center islan...
- 2 Beds
- 3 Baths
- 2259217 MLS
- ACTIVE Status
Wonderful Home on the Wakefield Estate Side! Great opportunity. Surrounded by $800K+ homes! Screened Porch overlooks private 2 acre lot. Hardwood floors in on 1st floor. ...
- 4 Beds
- 3 Baths
- 2256086 MLS
- ACTIVE Status
Great location in North Ridge on large home site. Hardwood floors, updated kitchen with granite counters. Sun room with brick floor, first floor bedroom with attached bat...
- 5 Beds
- 3 Baths
- 2254997 MLS
- ACTIVE Status
Half acre lot right off hwy 401. 3 bedroom Ranch, Covered front porch. Lots of potential
- 3 Beds
- 2 Baths
- 2251487 MLS
- ACTIVE Status
Wonderful Southern Charm home with wrap around porch and rear load garage. Kitchen with separate breakfast area and Island. Granite counters. Family room with gas log fir...
- 3 Beds
- 3 Baths
- 2251179 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 .