Bank Owned Homes in SE Portland

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When on your search for a new home in SE Portland.. don’t forget to check out Bank Owned Homes. They are usually listed under market value and you would be surprised of the condition and quality of some. Bank Owned Homes are different from foreclosure homes because the bank already has taken back the home and it usually is vacant. Because of this, Bank Owned Homes usually can close in about 30 days. Compared to the average three to six months it takes for a short sale (foreclosure) to close this is a kind of refreshing. Here are some points that I would like to make about Bank Owned Homes.

• Usually listed under Fair Market Value (FMV)
• Usually can close in about 30 days
• Usually are vacant
• Can be found in nearly every neighborhood

AUCTION ALERT – Free list of Bank Owned Homes in Portland

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Click on the image to the left to sign up for AUCTION ALERT. This will notify you of any Bank Owned Homes that are in SE Portland (or anywhere else you’re looking). This is how it will work: You’ll click on the image and be taken to a sign up page. Fill out the info and tell us what area of town you are looking in and / or any requirements you have for your new home. You will then get an email with all the Portland Bank Owned Homes that match your area and / or requirements. When browsing, You might find a home that interests you. Simply hit the request showing button and we will contact and schedule a showing.

Tips for buying a Bank Owned Home

Buying a Bank Owned Homes are a little different that buying a retail home, but not much. From my experience here are some questions to ask:

1. Ask if there are any inspection reports.
2. Find out what repairs the bank has agreed to do.
3. If there is an “as is form”.
4. How long does the bank need to accept the offer?
5. How does the bank need the offer submitted?

SEARCH ALL HOMES IN PORTLAND METRO FOR SALE

Thank You for taking the time to read my blog. Please feel free to contact me if you have any questions about Bank Owned Homes. I have been in Real Estate since 2003 and have experience with distressed properties and can help you find your future home. I like to advise my clients to look at distressed properties to begin their search. After you have seen these homes then look at retail homes. Bank Owned Homes are not just trashed homes or homes in the ghetto. They are everywhere. I would say practically in every neighborhood of Portland. Take care my friends and good luck!

Warm Wishes,

Aaron Majors

About the Author | Aaron Majors

• Author's website: http://www.PortlandHomeAuction.com
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Born and raised in Alaska, Aaron came to Portland after serving in the U.S. Marine Corps. Aaron enjoys the outdoors, volunteering, teaching, learning, and being active in the community. Always loving architecture and buildings, it seemed natural that Aaron's passion became Real Estate. He is a member of the Portland Metropolitan Association of Realtors, National Association of Realtors and is always continuing his Real Estate education. He sells Real Estate in the Portland metro area and specializes in selling Homes and has an extensive background in foreclosures, Home Auctions, Short Sales, Bank Owned homes, and investments.