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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. Secluded and private lot but within 15 minutes from shopping. 3 bedrooms, 2 baths. Detached garage workshop. decks. Kitchen open to dining and living...
- 3 Beds
- 2 Baths
- 2303875 MLS
- ACTIVE Status
Brick/stone accents, cul-de-sac lot in Devon. Elegant living room/dining room, master w/attached study, true luxury bath. Gourmet kitchen amazing counterspace open to fam...
- 5 Beds
- 7 Baths
- 2303727 MLS
- ACTIVE Status
Wonderful, recently renovated , two story home nestled in the heart of Wake Forest. Private back yard. Large family room with built ins and fireplace. Step -up Owners sui...
- 3 Beds
- 3 Baths
- 2296894 MLS
- ACTIVE Status
Wonderful spacious home in Cotswold subdivison. Minutes from shopping and restaurants. All the formals ! Family room open to kitchen, living room and dining room. Separat...
- 4 Beds
- 3 Baths
- 2302384 MLS
- ACTIVE Status
Pristine custom built home situated between Fairway Vista's common green and 12 Oaks 5th fairway. High end upgraded amenities, site finished wood floors, moldings, quartz...
- 4 Beds
- 3 Baths
- 2300158 MLS
- ACTIVE Status
Great investor opportunity, lots of house for the money. Enter to a great room with a friendly fireplace to gather the family. The large screened porch looks at the wood...
- 3 Beds
- 2 Baths
- 2300063 MLS
- ACTIVE Status
OPEN CONCEPT with FIVE, yes FIVE Bedrooms and 3 FULL baths. Room for the growing family. YES even a first floor bedroom or office with Jack-n-Jill full bath. Very Larg...
- 5 Beds
- 3 Baths
- 2298247 MLS
- ACTIVE Status
Bank owner property sold ASIS, Sunset Lake prime Real Estate with a gorgeous view of the lake from the two decks in the back and every bedroom have lake view. 4 bedrooms ...
- 4 Beds
- 4 Baths
- 2297335 MLS
- ACTIVE Status
Listings provided courtesy of Triangle MLS, Inc. of NC, Internet Data Exchange Database. Information deemed reliable but not guaranteed. © 2020 Triangle MLS, Inc. of North Carolina. Data last updated .