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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 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 titla 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
Beautiful 4 bedroom, 3 1/2 bath home on a large lot. Nicely landscaped, side entry to 2 car garage. Covered front porch, open back patio. Hardwood flooring in living room...
- 4 Beds
- 4 Baths
- 2223098 MLS
- ACTIVE Status
*Seller has accepted an offer pending executed contract.* 3 sides mostly brick exterior on over 3 acre lot. In ground pool, 3 storage buildings. New front door and frame,...
- 3 Beds
- 3 Baths
- 2222847 MLS
- ACTIVE Status
Established Wake Forest S/D, home on almost an acre private lot. Updates include: new carpet, int & ext painted, and NEW HVAC. Ready for your updates to make it your ho...
- 4 Beds
- 24 Baths
- 2222780 MLS
- ACTIVE Status
Great OPEN concept Ranch plan. 3 bedroom 2 bath. Backs up to Woods. First time home buyers or investors. Easy access to Zebulon, 64, Raleigh. Sold "AS IS"
- 3 Beds
- 2 Baths
- 2217368 MLS
- ACTIVE Status
Multiple Offers - highest and best offers deadline is 11/14/2018 11:59:00 PM Popular Cary Glen location, corner lot, covered rocking chair front porch, rear deck. Walk i...
- 4 Beds
- 4 Baths
- 2215354 MLS
- ACTIVE Status
2-story brick front home with. 50 acre corner lot, 3-car side entry garage, fenced backyard with screen porch & large deck for entertaining. 4 bedrooms - 4.5 baths. Sol...
- 4 Beds
- 5 Baths
- 2214707 MLS
- ACTIVE Status
Executive 6 bed home w/stately presence on huge 10+ acre lot offers formals, open kitchen/family rm, dining rm, breakfast rm, sunroom, 3 car gar, 2nd & 3nd floor bonus ro...
- 6 Beds
- 7 Baths
- 2213793 MLS
- ACTIVE Status
Beautiful home in Wakefield Plantation on golf course lot! Large kitchen with breakfast booth overlooks bright & spacious family room with built-in shelves. First floor m...
- 5 Beds
- 6 Baths
- 2202954 MLS
- ACTIVE Status
Property is lender-owned, is being sold “as-is” U.S. Bank is making no representations or warranties” Wonderful custom built home in great neighborhood. Kitchen with la...
- 3 Beds
- 5 Baths
- 2187531 MLS
- ACTIVE Status
Listings provided courtesy of Triangle MLS, Inc. of NC, Internet Data Exchange Database. Information deemed reliable but not guaranteed. © 2018 Triangle MLS, Inc. of North Carolina. Data last updated .