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Bank Owned Homes October 27, 2008

Posted by W. Keoki McCarthy in Bank owned home, Foreclosure, Invest, real estate, real estate investing, REO.
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We have a division at our company called Northwest REO.  They sell exclusively bank owned homes and help bring investors together with banks.  In a nutshell, When a bank forecloses on a home and it is not bought at auction it goes to the bank and is called an REO (real estate owned).  Banks then hire specialists to sell these homes.  Northwest REO a division of McCarthy GMAC Real Estate represents many banks in our area.  We have a listing team and a buyers team.  The listing team works with banks to help them liquidate their assets.  They are the contact between our team of buyers agents and the bank. 

 Our team of buyers agents then help buyers acquire these homes.  We have helped many buyers over the years and are experts at this process.  It takes an expert to navigate through the sea of REO paperwork and the special process that one goes through to purchase these homes.  If you would like the benefits of purchasing a bank owned property you have found the right team. 
I would like to announce a feature that we have at NWREO.  If you are a twitter user you can sign up for tweets of our up and coming listings.  These are bank owned properties that are either in the middle of evicting an occupant or fixing major repairs.  They are not on the market but generally will be within the next month.  You can stay on top of it by following us at www.twitter.com/northwestreo
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