We sell Bank Owned Properties – condos, townhomes, single family homes, and residential income property.

REO’S are good deals. They generally sell about 8% - 10% lower than other properties on the market.

REO properties are bank owned properties. They are past the default and the foreclosure status, and are now listed with a real estate company. We are the listing agent for many REO properties and work directly with the bank's asset managers. Our insight into working with banks for REO sales is invaluable to a buyer who wants to purchase an REO property. Our agents can teach you the ropes and help you structure a contract that protects your rights.

REO sales are a specialty. Our agents have completed special training and are experienced in the sale of REO’S. A bank owned property sale is very different from an owner owned property sale. The standard Purchase Contract is used, but from there on out things are not typical. Banks in different parts of the state, or in different states, use their own addendums to the contract and practice different customs, procedures, rules and regulations, and above all, have a different rhythm.

Misconceptions about REO’S

The biggest misconception about REO’S is that you must pay cash. Providing that your lender finds the property suitable for the loan, and that you are qualified for the loan, you can finance the purchase. REO companies generally insist that you submit your offer with a pre-qualification letter from a lender.

The second misconception is that you must buy the property in ‘as is’ condition. This is not always the case. With the advice of your agent the offer can be structured in many different ways to make it acceptable to the lender.

east bay foreclosures meet our agents