Bank owned (REO) properties are properties that have been taken back into the banks inventory usually after an unsuccessful auction and are offered for sale. Short sale properties are different. They are being offered for sale by the owner who owes more on the property than they are offering it for. They will take an agreeable offer to their lender in hopes that the lender will allow them to take the offer and to move forward and sell the property, releasing them of the excess debt.
Both can be priced below market.
The following is a list of REO (Bank Owned) Properties listed for Sale in Bellingham MA. As of 1.6.13 (source MLSPIN)
131 Muron Avenue $214,900 2 Family Home
11 Oak Street $ 99,900 Single Family Rehab
172 Stella Road* $159,900 3 Bed,1.5 Ba Single Fam
71 Sheila Road* $199,900 3 Bed, 1 Bath Single Fam
15 Cross Street $209,000 3 Bed, 2 Bath Single Fam
72 Nason Street* $220,500 3 Bed, 1 Bath Single Fam
41 Crystal Way $160,589 2 Bed, 1.5 Bath TownH
208 Farm Street* $204,000 2 Bed, 1.5 Bath Condex
46 Mendon Street * $229,900 2 Bed, 1.5 Bath Condex
91 Pine Grove Ave $166,000 2 Family Home
1 North Main Street * $179,000 2 Family Home
* (these properties currently have offers and are waiting for lender approval)
FYI. Loosely defined a condex is half of a duplex home that is separately deeded. (Condo and Duplex)
Would you like to receive up to date daily email reports of Bank owned properties in your town? If so, contact me and I will set it up for you. 508-494-9061 or Cal@alandcal.com
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