Everyday we get clients looking for 'only REO's' properties in Orange County, let alone Dana Point. There's many advantages to buying REO's or foreclosed properties, and these properties usually move very fast. Here's some newly listed bank owned Dana Point Foreclosures:
Remember, some of the advantages you get when buying a REO or foreclosure are:
- When a home becomes a REO, All liens against it are removed and taxes are paid.
- REOs can be inspected prior to contract, and are listed with real estate agents.
- REOs many times are restored to at least a readily salable condition by the lending bank.
- You can save money in your title search if you use the same title company that the lender used during foreclosure. They will often discount the cost up to as much as 100%!
- REOs will often times include appliances.
- While in hot markets, you may not see a difference in price between an REO and a typical property, during slower markets, you can pick up an REO at discounts to the property’s actual value.