REO Properties For Sale in Maryland

By
Real Estate Broker/Owner with Maxus Realty Group - Broker 301-246-0001 Broker - Realtor - CEO

REO's

If you are getting involved with real estate investments, looking for distressed properties/ foreclosures. .. you may have heard the term REO without really knowing what it refers to and how it could play a part for all future investments

What exactly is a REO after all?

REO is actually just an acronym that stands for real estate owned by the bank. REOs aren't all that common because most banks do not want to get stuck with these properties.

How a property does become a REO?

It is simply when a bank forecloses on a home, it is requires by law to hold a public foreclosure auction. Nowadays, because of the current housing crisis or perhaps other reasons the home may not get any bidders at the auction, and the bank will end up owning the property. It is when the bank ends up owning the property it is then known as real estate owned by the bank, or an REO.

Why a Bank Does Wants To Get Rid Of Their REO's?

REO'sBanks normally do not want to own property, which is not what they are set up for. Basically, an REO is the sign of a bad loan that was given by the bank and the REO is becomes a huge liability, not an asset. Every month that a bank owns a piece of property means they are losing money by paying maintenance, taxes, insurance while the property remains vacant and vulnerable to vandals.

It's no wonder why banks price these properties at rock bottom prices.


If you are an INVESTOR, now you know why you should set your sights purchasing REO's

Most investors know that homes that need some work done to them usually are the biggest gold mines. REO's are the leverage they are looking for. REOs are generally a very attractive business deal for these investors. For those that know how to do it right, there is a lot of money to be made in REOs.

How can you find REO's?

REOs aren't hard to find because banks want to get rid of them as quickly as possible, and advertise them to the best of their ability. Some banks use REO property management companies that specialize in REO's and in general foreclosures and short sales.

As a Broker that works with investors, a lot of times, I choose just a few to get them exposed to the best deals. . because I appreciate the fact that they are ready to move and I'm ready to sell the next deal that comes without wasting my time with lookers and wishy-washy buyers.

If you are looking for any assistance in the Maryland, DC and Virginia market for REO's Foreclosures, Short Sales and HUD Properties

You can start here:

www.Herboso.com

Need help right away? Just call 240-426-5754

REO's

10 secrets you should now before buying foreclosures

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Ambassador
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Jerry Newman
Brown Realty, 210-789-4216,www.JeremiahNewman.com - San Antonio, TX
Texas REALTOR, San Antonio Military Relocation

Anyone looking for a Foreclosure or REO Deal needs to Contact Fernando in the Maryland, DC and Virginia area. He knows the REO market, and get help you with your next home purchase.

Apr 23, 2012 11:43 AM #1
Rainmaker
5,266,048
Barbara Todaro
RE/MAX Executive Realty - Franklin, MA
Marketing Agent for The Todaro Team

Good morning, Fernando.... anyone considering purchasing a bank owned property would be wise to call Fernando Herboso in the MD, VA or DC area for guidance with that purchase......

Apr 23, 2012 08:03 PM #2
Ambassador
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Fernando Herboso - Broker for Maxus Realty Group
Maxus Realty Group - Broker 301-246-0001 - Gaithersburg, MD
301-246-0001 Serving Maryland, DC and Northern VA

Thank you for stopping by and your vote of confidence.. . 

Apr 23, 2012 08:58 PM #3
Rainmaker
3,099,364
James Dray
Fathom Realty - Bentonville, AR
Exceptional Agents, Outstanding Results

Morning Fernando I have a client who buys nothing but foreclosures, REO's and HUD's.  Enjoy the day sir.

Apr 23, 2012 09:40 PM #4
Rainmaker
2,141,831
Patricia Feager, MBA, CRS, GRI,MRP
DFW FINE PROPERTIES - Flower Mound, TX
Selling Homes Changing Lives

Fernando,

When it comes to REO's nobody explains it better than you! It takes a lot of knowledge, experience, and tenacity to do what you do. Why oh why would anyone buy REO properties from someone other than you is beyond me!

You give thorough facts and that's important to me and the consumer. Thank you for all that you do to educate others. You're a teacher and a gentleman too.

 

Apr 23, 2012 11:49 PM #5
Rainmaker
1,063,600
Bob & Leilani Souza
Souza Realty 916.408.5500 - Roseville, CA
Greater Sacramento Area Homes, Land & Investments

Fernando, in our area it seems that the number of properties being sold to 3rd parties at auction is increasing and never even become REOs. You're lucky to have REO listings in Maryland that your investors can buy. :)

Leilani

Apr 25, 2012 06:19 PM #6
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301-246-0001 Serving Maryland, DC and Northern VA
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