Jacksonville Real Estate Blog Aug
13
Foreclosure Part III - Jacksonville FHA and VA Homes
Filed Under Foreclosure | REO | Leave a Comment
Jacksonville FHA and VA Foreclosed Homes
Another good source of foreclosed homes in Jacksonville can be FHA and VA. Look here for Jacksonville FHA Homes for sale and here for Jacksonville VA Homes These homes have gone through and completed foreclosure. They are usually sold “AS IS” and repairs will not be done. Both the FHA and VA will have additional paper work to complete. They will also often add Deed restrictions prohibiting the sale of the home for a period of time.
Aug
12
Jacksonville REO Homes For Sale
Real Estate Owned (REO) is a term used to describe a property that has gone all the way through the foreclosure process and is now owned by the mortgage holder. The homes can usually be shown by a buyers agent and the title and liens issues should be cleared at this point. You can find Jacksonville REO Homes in the MLS on this page I set up. REO homes can also be found on this Jacksonville Home Foreclosure page too. The short sale and foreclosed homes are mixed together because of the way the listing agents entered the homes into the MLS database.
Jacksonville REO Houses Can Be Great Deals
REO houses can be fantastic buys for both the investor and the personal homebuyer. Banks do not want to hold onto these homes, they have already spent thousands foreclosing on the house and are ready to cut their losses. The REO homes are likely to be roughest looking house for sale in the area, dead lawn, some trash in the house from a fast move out, and possibly in need of a paint job. If you are willing to look past these defects and want to buy a house potentially below market value, then take a look through the REO homes for sale in Jacksonville. If you see something that interests you, send me an email.