Bank Owned, Distressed Properties, & Auctions
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West Coast Realty Group
Shawn LeBaron & TEAM
1165 East Ave
Chico, CA 95926
Click To Email Me
Shawn LeBaron & TEAM
1165 East Ave
Chico, CA 95926
Click To Email Me
Sign up Below
to be on our Smart Home Buyer
R.E.O. email list. Find out before the
Home goes onto the MLS.
to be on our Smart Home Buyer
R.E.O. email list. Find out before the
Home goes onto the MLS.
What is a REO property? Real Estate Owned by a
bank. This is real property that a bank owns from the result
of a Foreclosure. The banks cannot own the property and
must sell it. Every month that they own it they carry it as a
liability on the books, which represents less money they are
allowed to loan to new borrowers. There is also the real
costs to own, such as insurance, taxes, maintenance, and
repair costs.
How is the asking price set? After the foreclosure,
the bank orders several BPO's or Broker Price Opinions
from local real estate agents and/or appraisers. They try to
set the price low enough to sell quickly. However the market
will determine the final selling price as the bank is a very
motivated seller. (see "What is a REO property?")
bank. This is real property that a bank owns from the result
of a Foreclosure. The banks cannot own the property and
must sell it. Every month that they own it they carry it as a
liability on the books, which represents less money they are
allowed to loan to new borrowers. There is also the real
costs to own, such as insurance, taxes, maintenance, and
repair costs.
How is the asking price set? After the foreclosure,
the bank orders several BPO's or Broker Price Opinions
from local real estate agents and/or appraisers. They try to
set the price low enough to sell quickly. However the market
will determine the final selling price as the bank is a very
motivated seller. (see "What is a REO property?")
How is the asking price set on a short sale? After assembling the "short Sale Package" a price is set to
secure a quick offer. Then the offer is sent to the bank along with the short sale package. The bank will order a BPO
and make a decision to agree to a short sale.
bid according to the terms of each auction you can bid on the property. Some Auctions are live with a Auctioneer calling
the bids, others are online only. Each auction can be different see the terms to determine the type of auction. A
Absolute Auction means the property will be sold to the highest bidder with no reserve or minimum price set. A seller
reserve means the seller has the right to accept or reject the highest bid. A minimum bid Auction means that the
property will be sold to the highest bid above the minimum price.
Where is this list of properties compiled from? All of the properties above are currently listed with
West Coast Realty Group, or one of several companies that have allowed West Coast Realty Group to list their
properties on this site. Each one has a Motivated Seller. Some of the properties are REO owned properties that the
banks have not put on the Market yet. The bank has to make a decision to sell the property as is or in other cases to
have repairs done. They contract with West Coast Realty Group to arrange for the repairs and cleaning. This is how
you can find out about many bank owned properties before they are listed on the MLS.
Why should I sign up to be part of the Smart Home Program? All of our clients love this FREE
service. At West Coast Realty Group we take pride in giving you "insider" information you can use to save thousands of
dollars when you buy a Property from a motivated seller. We have the experience to advise our clients on the best ways
to structure an offer on a REO property, or what must be done to ensure the bank will agree to sell by a Short Sale. We
work with Pacific Auction Exchange and can give you the inside tips you want on which properties to bid on in an
Auction. There is simply no other company that gives you this powerful information you need to be able to save
thousands of dollars when you buy a property. Sign up or call today to speak with one of my TEAM.
Thank You,
Shawn LeBaron
530-891-1116
secure a quick offer. Then the offer is sent to the bank along with the short sale package. The bank will order a BPO
and make a decision to agree to a short sale.
bid according to the terms of each auction you can bid on the property. Some Auctions are live with a Auctioneer calling
the bids, others are online only. Each auction can be different see the terms to determine the type of auction. A
Absolute Auction means the property will be sold to the highest bidder with no reserve or minimum price set. A seller
reserve means the seller has the right to accept or reject the highest bid. A minimum bid Auction means that the
property will be sold to the highest bid above the minimum price.
Where is this list of properties compiled from? All of the properties above are currently listed with
West Coast Realty Group, or one of several companies that have allowed West Coast Realty Group to list their
properties on this site. Each one has a Motivated Seller. Some of the properties are REO owned properties that the
banks have not put on the Market yet. The bank has to make a decision to sell the property as is or in other cases to
have repairs done. They contract with West Coast Realty Group to arrange for the repairs and cleaning. This is how
you can find out about many bank owned properties before they are listed on the MLS.
Why should I sign up to be part of the Smart Home Program? All of our clients love this FREE
service. At West Coast Realty Group we take pride in giving you "insider" information you can use to save thousands of
dollars when you buy a Property from a motivated seller. We have the experience to advise our clients on the best ways
to structure an offer on a REO property, or what must be done to ensure the bank will agree to sell by a Short Sale. We
work with Pacific Auction Exchange and can give you the inside tips you want on which properties to bid on in an
Auction. There is simply no other company that gives you this powerful information you need to be able to save
thousands of dollars when you buy a property. Sign up or call today to speak with one of my TEAM.
Thank You,
Shawn LeBaron
530-891-1116
| 530.891.1116 |
