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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
Great Opportunity in Wake County. Rural home but within 5 minutes from Knightdale shopping & I540 highway. 0.5 acre lot with large parking pad. Living room, separate fami...
- 3 Beds
- 1 Baths
- 2255441 MLS
- ACTIVE Status
Great location in North Ridge on large home site. Hardwood floors, updated kitchen with granite counters. Sunroom with brick floor, first floor bedroom with attached bath...
- 5 Beds
- 3 Baths
- 2254997 MLS
- ACTIVE Status
Great opportunity to own this 4 bedroom 2.5 bathroom single family home. This property built in 1999 has approximately 2,857 square feet of living space. Close to restaur...
- 4 Beds
- 3 Baths
- 2254167 MLS
- ACTIVE Status
Older home in old Garner neighborhood close to revitalized downtown area! This one bedroom home on a .22 acre lot is at the end of a quiet street. Fix up or tear down. Ad...
- 1 Beds
- 2 Baths
- 2251668 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
Great opportunity to own this 3 bedroom 2 bathroom single family home. This property built in 1976 has approximately 1,352 square feet of living space. Bring your ideas...
- 3 Beds
- 2 Baths
- 2250345 MLS
- ACTIVE Status
Great opportunity to own this 4 bedroom 3.5 bathroom single family home. This property built in 2006 has approximately 3,751 square feet of living space. Close to restau...
- 4 Beds
- 4 Baths
- 2248864 MLS
- ACTIVE Status
Country setting on almost an acre of land. Home will need some repairs and updates. Seller will not complete any repairs to the subject property, either lender or buyer ...
- 3 Beds
- 2 Baths
- 2242684 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
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 .