It's commonly assumed that bank owned homes are a real steal and one should run out blindly and buy it, but that’s not always the case and mostly is not. Banks are much more motivated than most sellers for sure as they have thousands of home “in stock” and want to get them off their books as soon as possible, but they also know they don’t need to make their losses any worse than they already are. When considering buying a bank owned home, you need to be as prudent as you would be in any big purchase and check your comparables to make sure you are getting at least a good buy, which you usually are.
EXIT Realty Associates
Bellingham Real Estate Blog
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