Given the current real estate market, REOs aka foreclosures are plentiful in your area.
If you are looking to find a property below market value or to get more sq ft for your money, purchasing a REO property is your best bet. You will definitely need an agent who is knowledgeable and works with REO properties.
I previously worked as the Managing Broker over HUD Homes in 22 counties in Northeast Texas. A HUD Home is an FHA Foreclosure that is owned by the government (US Dept of HUD). In order to succesfully purchase a HUD Home, several steps are required and only an experience agent can guide you through the process.
It also takes an experience agent to help you negotiate the best offer and other important details that are required to purchase or even make an offer.
If you are searching for a HUD Home and plan to occupy it, you have a big advantage over an investor. HUD Homes are sold "as is".
Fannie Mae properties are generally move in ready.
My REO profile can be located here.
I am currently working on my new website but you can view some of my listings at www.SoldByTanyaRedic.com.
Happy House Hunting!!
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