Foreclosure

There are many variables to consider when shopping for foreclosure homes, is it a bank owned home or is it a short sale. The goal of combing through foreclosure listings is not to find a house; it’s to find an agent. A public foreclosure auction can occur when ownership of the property officially transitions to the bank. All homes — whether in foreclosure or not — must be maintained within applicable city or HOA guidelines. Harbour, city lawyers said, has been selling substandard” homes to buyers in Cincinnati who often default on the contracts because they cannot pay for the repairs or keep up with the monthly payments. In this case the home moves into foreclosure at which point it will be sold at auction.

REO is the most popular method of buying a foreclosure because it’s generally the easiest and safest way. If you’re still interested in purchasing one …