John “The Sandman” on Bank Owned Properties For Sale on the Outer Banks
Sunday, January 25th, 2009
Foreclosures resulting in Banks taking back properties at the Courthouse Steps (no other bidders) usually leads to the Bank (Lender) or other type financial insititution Listing the Property For Sale with a Real Estate Broker. These are usually some of the best opportunities in the market as Banks do not view these properties as an asset, rather, a liability. Obviously, banks are intent on maximizing their return, but, generally, are not interested in that process taking longer than 3-6 months … so, they will aggressively price in order to move this inventory.
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