Some investors are eager to purchase single-family homes in foreclosure, hoping to take advantage of low prices and then turn a profit by renting the properties to tenants. But many of these buyers are not experienced landlords, and even experienced landlords often fail to consider crucial factors that will make the purchase of a foreclosed home a success or failure as a rental property.
Many people, in the hopes of getting a home at a rock bottom price, consider buying a foreclosed property -- not necessarily aware of the many risks involved. Learn whether you are a good candidate to buy a foreclosed home, and learn the pros and cons of buying at each stage of the foreclosure process.
REO stands for Real Estate Owned. If a property is REO, this means that the bank owns the property as the result of a foreclosure. Read on to learn more about REO properties. How Does the Bank Become the Owner of the Property? Foreclosure is the legal process where real estate secured by a mortgage or