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Tucson Bank Owned Homes

If you are looking for a great deal on a home, you may consider buying a bank owned home. A bank owned home, also called an REO or REPO or "lender owned", is a home that has been foreclosed on and taken back by a mortgage lender or trustee AND a buyer could not be found during the foreclosure process. At this point the bank owns the property and is interested in selling. A bank is not in the business of holding homes, so their intent is to sell a foreclosure to satisfy as much of the outstanding loan as possible. In many cases, a bank will accept less than a loan value if market conditions are not favorable. Many times there is little or NO warranty and the home is sold "as-is". Please consult with one of our agents and get a BPO (broker price opinion) and home inspection before making an offer on a bank owned home.

Also view our Tucson Foreclosure properties for other potentially great deals.

Contact Us if you have any questions at all about the bank owned process or Pre-qualify to determine what your buying power allows you to buy in today's market. You might be surprised at what you find out as lender's requirements are changing every day.

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Bank Owned Homes in Tucson

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