A "bank owned home" is a home that a mortgage company, or bank, takes ownership of after the home goes through a foreclosure. Sometimes this is referred to as REO - Real Estate Owned property.

 

Before making an offer, Real Estate Solutions of WA will ask for the following from the listing agent: 

Offers are usually FAXED or Emailed to the bank. There is no formal presentation. Keep in mind:  nothing happens evenings and weekends

 

Since there is no face-to-face presentation to the bank, provide the listing agent with a pre-approval letter, buyer biography and a copy of the earnest money check.  It is very important to submit and offer with as few contingencies as possible.  This may mean doing your inspections etc. prior to submitting the offer. Make your offer easy to accept.

 

If you would like to receive weekly updates in real time as new properties that match your specifications come available please email us and include your name, email address, phone number, area of interest and any comment you may have.