Jeff’s Carlsbad Blog for First Time Home Buyers


Short Sales NO: Bank Owned Properties YES

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I’ve written about the issues involved in buying a short sale home in the past.

I don’t really encourage first time buyers to go after them because they can be so difficult and frustrating. That’s not to say you should not consider them as part of your home search strategy, but beware…they can really try your patience, and they are NOT necessarily a good deal. Doing your homework is ESSENTIAL!

On the other hand Bank Owned Properties can be a good opportunity for you.

Also referred to as REOs, these are properties that have been through the foreclosure process but not acquired at auction so the bank now owns them and is selling them publicly through an agent on the MLS.

  • Some of them can be very well priced because the bank wants to off-load them.
  • And they are generally handled just like any other real estate transaction, as opposed to the complexities of the short sale.

As always, you will want to do your due diligence to see if they are priced well for the market. And as part of the offer process a prudent buyer will conduct a thorough home inspection with a licensed inspector.

Consult with the agent you are working with, or feel free to give me a call/text message (760-840-1360) or send me an email to JDowler@remax.net.

MORE ARTICLES ON SHORT SALES:

Short Sale Contingencies 

Are You Hunting for a Deal? Short Sales – Perhaps Not the Deal of the Century 

Buying a Short Sale

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2 Responses to 'Short Sales NO: Bank Owned Properties YES'

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  1. […] am often asked questions about short sales. Let’s face it, they have an appeal for many buyers, even though they may end up not being a […]


  2. […] am often asked questions about short sales. Let’s face it, they have an appeal for many buyers, even though they may end up not being a […]


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