Dan Bradstreet RE/MAX - Expert Realtor

Bank owned homes
These are homes that have gone through the home foreclosure process voluntarily or un-voluntarily. Generally speaking, the lien holder (bank) has purchased the home at the court house steps for less than the money owed (payoff), thus making the property a "Bank owned property". Most banks have a real estate agent or a agent that markets these properties for a fee. Thus, most are listed for sale in your local multiple listing service.
In all cases that I am familiar with, the bank will require a letter from your bank or lender giving the "ok" for the purchase of a properties for the amount owed after your down payment.
You can ask the bank "seller" to pay for closing costs and or for the cost of repairs etc. A Remax real-estate agent that is experienced in the acquisition of bank owned homes can best represent you the buyer.

Remax listed distressed homes and short property, foreclosures, Bank Houses and Condos for sale.
Gresham Oregon  Beaverton Home Aloha homes Gladstone Houses for sale
Lake Oswego Homes   West Linn Houses  Tigard Property Oregon City Property Tualatin Homes
Milwaukie OR   Hillsboro Oregon  sherwood homes   Tualitin Property

About Tualatin Oregon
The City of Tualatin was incorporated in 1961 has grown into a progressive modern City. It is located about 10 miles southwest of
Portland, OR in Washington County. A preliminary 2008 estimates population of 47,150. Tualatin takes pride in being a family oriented community. City government and school leaders, neighborhood associations, citizen groups, and business owners work together to make Tualatin a wonderful community and "A Place to Call Home." A vibrant, mixed-use Urban Village is the vision of The Downtown Tualatin Improvement Plan. It is a long term blueprint that will guide development in Downtown Tualatin. A low tax rate lends to growth, for commercial and industrial business. The state's first commuter rail line opened February 2, 2008. Tri Met WES Commuter Rail provides weekday rush hour service between the cities of Beaverton, Tualatin, Tualatin and Wilsonville.

More about Tualitin Oregon

RECREATION & LEISURE
Oregon City has over 20 parks including the Clackamas River Trail and a skateboard park.
Oregon City Farmers� Market is open May through October, with vendors selling a wide variety from produce and flowers
to cheese and wine. Enjoy live music, activities for children, and food booths.
Take a ride on the Oregon City Trolley it's free and runs from Mid-June through Labor Day. Enjoy a day of golf at one of two
golf courses, or take the kids swimming at the public pool. The Hopkins Demonstration Forest encompasses 140 acres with 3
miles of trails, interpretive exhibits, covered picnic areas, drinking water and a amphitheater.

Oregon City Homes

Bank owned property includes homes and properties that have been foreclosed on by
the bank. The bank actually owns these houses, and because the
bank is not in the real estate or rental business they need to sell
the foreclosed property quickly.
Don't get me wrong, this is not a fire sale, banks do their home-work, First A BPO "broker price opinion" is ordered from a local real estate agent which helps the bank to determine the property value. Once a price is established, and a real estate agent is hired to market the property, offers can be addressed. An offer response can take from one day up to two weeks in most cases. The process varies from bank to bank, however if you choose to make an offer, you can expect a much quicker response than if the home was a short sale. "which can take up to 6 mos."
With bank owned homes you have more options because it is in the banks best interest to make the property financable.

1. Ask for funds to cover your prepaids and closing costs.
2. Ask for repairs to the home.

For more information on how to purchase a bank owned home in your area
please contact Dan Bradstreet