Many buyers today are seeking Central Oregon bank owned properties. Buyers believe bank owned properties offer a home at a price lower than other homes on the market. This is not always the case.
Bank owned properties in Central Oregon usually come with their own list of issues. Bank owned properties are sold as is generally. The buyer needs to be very careful, every property should have a home inspection prior to closing but with homes that are bank owned should be inspected even more. Here in Central Oregon there are other issues that a local REALTOR® will be able to advise you of also.
When purchasing a bank owned property the buyer will not receive a Seller’s Property Disclosure, the bank knows nothing about the property. HUD homes do have a property report available, but this should never be used in place of your own home inspection.
Bank owned properties can have hidden issues, with winter quickly approaching these properties have a chance of broken (frozen) pipes and more.
Your list of bank owned properties may hold your dream home, but remember there are other homes in these same price ranges that actually may give you a better home at a better price.
Click on the line below for a current list of Bank Owned homes in each area. You can also create your own search above. I do provide at no obligation to you a daily email.