The homes you see here are foreclosures of type or another, and often known by many names. REO. HUD Home. Repo. VA Foreclosure. Bank Owned. Lender Owned. And the list goes on… but they do have a few things in common.
When making an offer, they ALL require the buyer to be Pre-Approved OR to have Proof of Funds with a Cash Offer. The Proof of Funds or pre-approval Letter MUST be submitted with the offer package.
Foreclosed homes are almost always, sold ‘As-Is’.
The sellers, be it a Bank, Investor or a Government Entity, typically give preference to offers from Owner Occupants over Investors. The fact that a deal may be All Cash or not sometimes does not matter. They are looking to put families into homes.
Some of these homes however, are offered as Cash Only Sales. This is typically due to their condition, and may be deemed uninhabitable. So Cash is required and they usually priced approriately.
HUD Homes (View More HUD Homes)
VA Owned Homes (View More VA Owned Homes)
Lender Owned Homes (View More Lender Owned Homes)
Other Foreclosures (View More Foreclosed Homes)