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Olympia Bank-Owned Properties Rate Unemotional Scrutiny
If you are a house hunter who isn’t reluctant to dig in and roll up your sleeves, it could be worth your while to take a look at Olympia “bank-owned” offerings. Deciding to do that is less popular than you’d think.
Bank-owned is a word that can summon up all sorts of negative connotations, causing even people who usually think of themselves as unemotional to hang back. Like “REO” (short for real estate-owned, a synonym for bank-owned), it is applied to Olympia homes whose ownership has been reclaimed by the lender. Foreclosures and real estate auctions that follow are never jolly circumstances, so many don’t even consider looking at the subject residences.
It is partly because of the inauspicious histories that such properties can carry with them that the majority of Olympia home seekers automatically shy away. Yet it can be forcefully argued that, especially for prospective homeowners who are on the lookout for bargains, the “bank-owned” moniker ought to draw special attention. Olympia’s bank-owned homes usually take some additional care in how they are examined and purchased, but they can also present value that is worth the extra effort.
Because a bank-owned home is being offered for sale by the lending institution that ... more

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