It is the final step in the Foreclosure process; in most states.
The Bank usually now owns the property and can LIST and SELL it.
It is possible to take part in this sale, make an offer, and buy the house; it usually requires CASH and there are many, many CAVIATS in doing this. Consult someone local.
Unfortunately, most Fixer-Uppers are Foreclosed homes:
You can get a Buyer's Agent (REALTOR) to represent you and can make an offer.
Please give me a call at 267-688-1110.
I will be happy to discuss this issue with you.
Keith J. Lawson
RE/MAX Affiliates N.E.
9237 Frankford Ave.
Phila, PA 19114
LawsonRE@gmail.com (email) http://www.keithlawsonhomes.com (web)
Member - AREAA Philadelphia Metro
Follow me on Facebook at http://facebook.com/keith.j.lawson
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Bank Owned Homes can also provide funds / allowances fro repairs by the Bank ie Freddie or Fannie... I do Bank sales alot and the cleaner you are as a buyer than the better chance you have with a bid.
Feel free to call me for details?
I just closed 2 bank sales last month. 1) was a cash deal and 2) was a Mtg condition and the Bank still took the offer. cool beans!
All the Best John Curci RE/MAX 215-757-2889
The Barlow Group of Keller Williams Realty