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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
Peaceful water view home site backing up to open space. Neighborhood has 4 lakes, pool and tennis. New roof just installed. Open 2 story foyer and family room. Home will ...
- 4 Beds
- 3.0 Baths
- 2194027 MLS
- ACTIVE Status
Occupied Property, inspections not available -sold as is-. No for sale sign, Contact with occupants is prohibited. Sold as is site unseen, Occupant is vacating 6/01/2018....
- 2 Beds
- 2.0 Baths
- 2193976 MLS
- ACTIVE Status
Great opportunity to own this 3 bedroom 2 full and a 1/2 bathroom Townhome in North Raleigh. This property built in 2005 features approximately 1,740 square feet of livin...
- 3 Beds
- 3.0 Baths
- 2193927 MLS
- ACTIVE Status
MULTIPLE OFFERS, sellers request highest & best offer to be submitted by 5/30 @ 5:00. House sold as is, inspect the house prior to making offer, no DD/inspection continge...
- 4 Beds
- 1.0 Baths
- 2192712 MLS
- ACTIVE Status
Wonderful custom built home in great neighborhood. All brick exterior with large rear patio. Kitchen with large island, w/i pantry. Open to family room, perfect for enter...
- 3 Beds
- 5.0 Baths
- 2187531 MLS
- ACTIVE Status
Don't miss this 4 BR transitional in Wakefield. Some of the features incl - 9 ft ceilings, built in shelves in family rm, intercom, security system, hardwood throughout t...
- 4 Beds
- 3.0 Baths
- 2186382 MLS
- ACTIVE Status
Beautiful Spacious 3 Bedroom 2.5 Bath North Raleigh home. Located in the Brighton Subdivision. This home has character and charm throughout the entire home. Perfect fixer...
- 3 Beds
- 3.0 Baths
- 2184676 MLS
- ACTIVE Status
Two story traditional with covered front porch, 2-car front entry garage & corner lot. Sliding glass door to patio for entertaining. Hardwood floors. Open floor plan. L...
- 4 Beds
- 3.0 Baths
- 2184391 MLS
- ACTIVE Status
FORMER BUILDER'S MODEL, .27 ACRE lot. INVESTORS this Property needs paint, carpet and updates. Property SOLD AS IS with no repair, warranty or seller disclosure. Listin...
- 4 Beds
- 3.0 Baths
- 2182314 MLS
- ACTIVE Status
Great opportunity to own this 5 bedroom 2 full and a 1/2 bathroom single family home. This property built in 2005 features approximately 2,856 square feet of living spa...
- 5 Beds
- 3.0 Baths
- 2181611 MLS
- ACTIVE Status
1st floor master suite with dual closets, 4 Bed 3.5 Bath Home with walk out Basement in Stonegate. Two story Great Room w & gorgeous double sided fireplace, Gourmet Kitch...
- 4 Beds
- 4.0 Baths
- 2165118 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 .