Boise Bank Owned Properties May 21, 2024
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Boise Bank-Owned Homes

On the search for distressed properties in Boise? With our up to the minute listings, it's easier than ever to find available Boise bank-owned homes, REO'S, and more.

Boise Bank-Owned Homes

Are you a real estate investor or simply searching for your next home, and are interested in purchasing a bank-owned home? Purchasing real estate owned by the bank doesn't have to be a difficult process. With Hughes Group and our team of experienced buyer agents, you'll already be well on your way to having the keys to your new home.

Boise bank-owned homes are considered foreclosed homes, and foreclosed homes typically go through three stages which homebuyers can purchase from. The first phase of default, before the home is put up for sale at an auction, is the buyer's first chance to buy the property. Stage two is considered the auction. A foreclosed property in Boise can be purchased during the auction (public foreclosure auction), or if the Boise home fails to be sold, it can be purchased through the third and final stage, directly from the bank which possesses the property.

Once Boise bank-owned homes have gone through the aforementioned three stages, the properties will be listed for sale. Good buys are available with Boise bank-owned homes, but there is risk involved and plenty of homework to be done. Be sure to do some in-depth research before you plunge into the market, and gear up with a Hughes Group agent who has experience with distressed homes and properties.

You and your agent will likely want to inspect the property and perform a title search. Search the public records for liens or outstanding taxes, as these things can drive up the purchase price. Your agent is also invaluable when it comes to negotiating a lower price with the bank, a lower down payment, or even a lower interest rate. They'll assist you with putting in an offer, and will make sure it includes substantiated reasons in asking for a lower price. It's a good idea to include photographs of any sustained damage and estimates for repairs to support your offer amount.

Many of the best deals on bank-owned homes go quick. Be ready and prepared to make an offer on what's available before you begin searching.

Contact Hughes Group if you're interested in Boise bank-owned homes at 208.571.7145.