Often times when I’m meeting with a client and suggest looking at “REO’s” I get a “HUH?” look. “What’s that” they ask.
An REO is Real Estate Owned. It’s when a Post Falls Home has gone through the foreclosure process, was not bid on and ultimately became owned by the bank. The bank is highly interested in getting rid of these properties as they no longer want to sit on them.
Bank Owned Inventory is growing nation wide. In Post Falls it’s no different. The Post Falls Bank Owned Properties have some great deals. In the Northwest – banks aren’t completely desperate to unload them (i.e they’re not taking 50% or 60% hits… yet) but you can usually get a property between 80 and 90 cents on the dollar, which is a pretty good buy. In some cases – you can get a much better deal on Post Falls Bank Owned Properties.
We compile a list of all Post Falls Bank Owned properties – if you’d like we’ll send it to you.