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 Bank Owned and HUD Properties

 

The news is full of talk about the mortgage meltdown and bank owned properties.  No doubt about it, there are a lot of bank owned, also know as REO (Real Estate Owned), properties that have flooded the market.  These are properties that had Conventional Loans on them the have gone back to the bank because the seller could not keep up with the payments.  Some banks handle the sales of these properties themselves, other banks use a third party company to handle the sales.  HUD properties had FHA loans on them that the seller could not kep up with.  HUD is the current owner of those properties

 

Special addenda always apply to these properties.  The banks will usually not make any repairs to the property so they are being sold "AS IS".  These can be good values, but the number of bank owned properties currently on the market has kept the banks from just giving them away.  Also, because of the number of properties an asset manager may be handling, the response time can be very slow, so patience is a big key to successfully buying one of these properties.

 

I deal with bank owned properties so I have great experience to offer you in making a bid on a foreclosed property.  Below are a few of the REO properties currently on the market in the greater Kansas City area.  Some of these properties are marketed by other brokers.  There are many more that I can locate for you.  Let me help you! 

Missouri, Kansas City North

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Missouri, South of the River

 

 

 

 
 

 

 

 

 

 
 

 

 

 

 

 
 

 

 

 

 

 

 

 

 
 

 

 

 

 

 
 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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Reece and Nichols Realtors, Inc.
11601 Granada Leawood, KS 66211  Phone: 913.945.3704
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