Long Island Bank Owned Homes - Weekly Update:
The list of the bank owned homes that came on the market on Long Island during the previous week is updated weekly.
Many prospective buyers of bank owned homes have questions about the process. If you are interested in purchasing a bank owned home, and have any questions about the process, please feel free to leave it in the comment section of this post, or you can contact me directly.
***Bank Owned Homes Q & A***
Q - "How is the price of a bank owned home determined?"
A - The bank has the ultimate say on the listing price. The pricing is based on BPO's (broker price opinions) and comparable home sales. The price is not based on what the bank was owed at the time of the foreclosure, contrary to what many people believe. Since broker price opinions may vary, bank owned homes are similar to other homes on the market in that some are truly priced to sell, while others are overpriced.
The bank owned homes listed at the bottom of this post came on the market between 8/1 - 8/7/08. Beyond this list, there are a number of other bank owned homes available as well. If you are interested in bank owned homes, please feel free to contact me, and I will do a search based on your specific search criteria. This information is posted on a weekly basis. You can check back regularly, or if you'd prefer, you can contact me and be put onto a list of people that receive this update via e-mail. My contact information is listed at the bottom of the page.
Long Island Bank Owned Homes (NEW On The Market - Week Ending 8/8/08)
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