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Orem Bank Foreclosure

How to Buy a Orem Bank Repo

Few Buyers in Orem Utah buy houses at foreclosure auctions. More commonly, consumers buy Orem Bank repos from the banks that seized them. They pick them up with the help of a Orem Realtor. The term for such houses is REO, for real-estate owned by a bank.

Amanda’s Testimonial About Buying a Foreclosure

Are you looking to buy a Orem  Bank Foreclosure? If so, Team Teasdale Realty has help many buyers buy a Orem Bank foreclosure. Here is a testimonial from Amanda about how we just helped her get a Orem Bank Foreclosure.

Here is a quote from Amanda: “My house hunting experience was a long one before finding Team Teasdale. Not only were they extremely professional but 100% confident in what they do. We had walked through a lot of houses and had offers on several short sales, before Team Teasdale.”

Hire a Realtor that Sells Orem Bank Foreclosures

Team Teasdale Realty and their Real Estate Agents specialize in selling REO properties in the Orem area. Team Teasdale Realty has sold many Orem Bank Repo over the years.

A good share of REO houses are decrepit. Many sit empty for months before they are sold, and they end up in such bad shape that they are ineligible for mortgages. Investors often buy these REOs with cash, fix them up and sell them, just like the house flippers of the boom years. Believe it or not it is still possible to flip a home in Orem and make money. This will take patience and skill to get a home way under value that is worth your time to flip.

Almost all REOs are listed through real-estate agents. The principal broker of Team Teasdale Realty knows how to buy a bank foreclosure before the crowd. Paul Teasdale has been selling homes in Utah County since 1995.  Paul carefully follows the short sales and waits for them to fall into foreclosure. If you catch them they day their status changes you are the first and often only buyer. This is the way to buy a Orem Bank Foreclosure. If you would like help finding a Orem Bank Repo contact Paul Teasdale with Team Teasdale Realty. Follow the link below to find a Orem bank repo:

Orem Bank Repos

buy a Orem utah bank foreclosure

Before Moving To Orem Utah

Moving to another city requires an intensive planning.  This may start from listing all the things that you have to do and their time frame.  In doing so, you will be assured that you will carry out things on time and nothing is missed out. Make a list and cross each item out one at a time. Basically, get really organized.

Seek Help from Realtors in Orem Utah

Moving to Orem, Utah can be a big task and it would be wise if you seek help on matters that pose problems as you execute your plan.  One of the best ways to do this is to seek a Orem Utah Realtor who could give you facts about the different neighborhoods and schools within the city. There are many Realtors around Orem but you have to look for someone who is trusted in the area.

What is a Orem Bank Repos?

The bank now owns the property and the mortgage loan no longer exists. The bank will handle the eviction, if necessary, and may do some repairs. Fannie Mae and Freddie Mac will often repaint and recarpet homes in Orem prior to selling them. Fannie Mae and Freddie Mac would just put the homes on the market and sell them as-is. However, it seems they realize they can get more money by making the home look cleaner and doing some repairs.

A bank will negotiate with the IRS for removal of tax liens and pay off any homeowner’s association dues. As a purchaser of an REO property, the buyer will receive a title insurance policy and the opportunity to investigate the property. A Orem Utah bank foreclosure will be sold with a clean title.

A bank owned property might not be a great bargain. Do your homework before making an offer. Have one of the Realtors with Team Teasdale Realty do a comparative market analysis. They will help you determine if the Orem home is a good deal or not.

Make sure that the price you pay is comparable to other Orem homes in the neighborhood. Consider the costs of renovation, including time to complete them. Don’t get caught up in a ‘bidding war’ and pay over market value. It’s an old myth that “foreclosures” are a bargain. You can get a good deal but it takes knowledge and experience to make this happen. Be sure to hire Team Teasdale Realty to represent you when you are ready to buy a Orem Utah bank foreclosure.

Orem Bank Foreclosure

Team Teasdale Realty specializes in helping buyers buy a Orem bank repos. Finding bank foreclosures in Orem is fairly easy in depressed markets, but it’s also simple to find foreclosures in strong real estate markets. The difference between the two markets is you will find a greater number of foreclosures in falling real estate markets. Orem bank foreclosures are currently available. Be sure to click the Orem Bank Foreclosures link at the bottom of this page. This link will show you all the available bank foreclosures in Orem. This list includes HUD Homes, Fannie Mae Homes, REO’s and all bank properties. This is the best source of finding Orem Bank Foreclosures.
Search Short Sales Orem Utah Real Estate Market

Many pre-foreclosure homes that were once offered as short sale in Orem, UT end up as a foreclosure, which are eventually deeded to the bank. The reason why buyers may refuse to buy a short sale home could be any of the following:

1) Sellers stripped foreclosure home’s assets and / or vandalized the property.
2) Bank refused to accept less than its present mortgage balance.
3) Buyers passed by the short sale in favor of a hassle-free purchase.
4) Location of the home and / or neighborhood was undesirable.
5) Listing was overpriced at mortgaged amount.
6) Seller did not qualify for a short sale.

A buyer can typically get a better deal on a Orem bank repo than a short sale. Would like to read more information about Short Sales in Orem Utah? is an excellent resource for information about Orem Bank Foreclosures and Short Sales. If you have specific questions about buying a home in Orem contact Paul Teasdale of Team Teasdale Realty.

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