What does REO, bank owned, foreclosure, HUD, probate or other housing types have to do with the average person planning to purchase a home? The fact is, each of these are types of homes you can buy. The home itself is not likely to be any different from any other home. However, who owns the property and how it is being sold is. If you are planning to buy a REO, bank owned, foreclosure, HUD, probate home, you need to know what goes into the process and how to find the best opportunities available to you.
With any type of home including REO, bank owned, foreclosure, HUD, probate homes, you have to take into consideration the bottom line. Is the home going to be profitable for you to own? The good news is that many of these properties are being sold because they are bank or government owned and therefore need to be sold. That translates into lower costs many times for many buyers. When it comes to your bottom line, take into consideration the goals you have.