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Downtown Portland Bank Owned Condos - Free List

By
Real Estate Agent with Portland Realty Hub LLC

Search Portland Bank Owned Condos (Click Image)

Check Out these Bank Owned Condos. Desirable areas like: The Pearl District, Downtown Portland, Goose Hollow, NW Portland, and The Westover all have fell victim to the Condo Crisis and offer good deals on Bank Owned Condos in Portland. Channel 8 News has reported that one out of twelve mortgages are behind on payments or in default. This means there are great bank owned condos in nearly every neighborhood of Portland. I'm always on the look out for good deals and I enjoy sharing what I find.

 

FREE LIST OF PORTLAND BANK OWNED CONDOS

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Click the image to sign up for Auction Alert. This will notify you every time a bank owned condo or condo foreclosure comes on the market. Tell us what area an what price range you are looking in and we will refine the search parameters to match your criteria.

 

Advantages of Buying Bank Owned Homes

  • All liens against the property are removed once it becomes an REO, and taxes are paid.
  • Unlike properties at foreclosure auction, REOs can be inspected prior to contract, and are listed with real estate agents.
  • While many foreclosures are often in deplorable condition, REOs are typically restored to at least a readily salable condition by the lending bank.
  • The bank or lender that owns the property will often provide an allowance for certain repairs.
  • REO properties are usually listed on your local RMLS (multiple listing service), or can be located by going directly to the SEARCH listings page.

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My Thoughts

When searching for you next condo in Portland I suggest looking at bank owned condos first. Then I would check out the condo foreclosures. After that Retail Condos. The Condo market is saturated with condos and there are some good deals out there. Get an Agent that has experience in distressed properties and have guidance through the entire process.

 

Thank you for taking the time to read my blog and if you have any questions please feel free to call directly at 503-332-9777. You can also email me at: SoldByAaron@gmail.com

 

Warm Wishes,

Aaron Majors

 

Comments (1)

Jake Planton
www.JakePlanton.com - Portland, OR

Good post Aaron!  People get confused with all the differnt types of homes, REO's, Foreclosures, short sales, and retail.

 

Thanks!

 

JP

Nov 24, 2009 05:23 AM