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If you purchase REO homes you are making a good choice financially because they are priced to sell by the lenders. That is right. These REO homes are owned by the lenders and not by private parties trying to sell their home and get the best price that they can get. A lender doesn't care what they get and they don't care what the real estate owned properties even look like. They are in desperation to get rid of them and they will do what it takes to find a potential buyer and lock them into a loan. Cash is more important to a lender than owning properties that they don't know what to do with.

Real estate owned properties are the best option because a private party or actual home owner trying to sell their house is going to be firm on their price. They might be willing to throw in closing costs or other things but their price that is listed is going to be very close to market value and they won't negotiate too much. REO homes are more than negotiable. You can come in at a price that is at least 40% off the listed market value and your chances are really good that you will get the sale. Not only does this mean that you can purchase real estate owned properties for dirt cheap but your down payment and your monthly payments will be significantly low. Anyone that wants to purchase a home is better off when they buy at a foreclosure home auction rather than a private party or a homeowner.

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