 REO Properties
How to Purchase an REO Property | What is an REO Property?
Kiley Group Investment Properties specializes in quickly tracking down bank-owned (REO) properties and real estate deals with high potential gains.
Flow Chart to Purchase Luxury Bank-Owned Homes
Last Listed: $1,200,000
REO Purchase Price: $800,000
Total Fees and Charges: $62,000 (see itemized list below)
Immediate Projected Profit: $338,000 |
Total Brokerage Expenses: $56,000
- 7% Brokerage Commission (Buyer)
- Includes any sub-fee agreements for out-of-state transactions.
- Can be apportioned between Buyer/ Seller
Recommended/ Optional Expenses: $4,200
- Title Search/ Title Insurance policy (Approx. $2,200)
- Inspection (Approx. $500)
- Attorney (Approx. $500)
- Other Closing Fees (Approx $1,000)
Steps to Closing a Bank-Owned REO Property
- Agents Review Foreclosure Records
- Determine Probable Market Value for Each Property
- Review Records and Flag Potential Candidates
- Research Market History of Candidates
- Map Locations of Candidates
- Obtain Photographs of Candidates
- Prepare Bid Analysis
Steps of the Purchase Process
- Present Top Choices to Clients
- Respond to General Questions about Our Property Selections
- Assist with Courteous and Professional Real Estate Advice
- Prepare Written Offers
- Present Proof of Funds with Offers to Purchase
- Assist in Due Diligence
- Perform a Title Search
- Arrange an Inspection (optional)
- Arrange Closing Details
- Close the Transaction
For more information on REOs visit About Bank Owned Real Estate: What is an REO Property? or contact:
Kiley Group Investment Properties
105 Baker Avenue
Whitefish, MT 59937
Phone 888-57-KILEY (54539)
Email sales@thekileygroup.com
Fax 406.862.4202
The Kiley Group and its suppliers do not warrant or guarantee the timeliness of any information available, including the availability of homes, even if such information appears in any e-mail, pager, cell phone or other alerts available through The Kiley Group Web Sites. The Kiley Group and its suppliers do not authorize the use of information for any purpose other than your personal use, and prohibit to the maximum extent allowable the resale, redistribution, and use of this information for non-authorized purposes. Nothing contained in The Kiley Group Web Sites constitute an offer or solicitation to buy or sell any security. UNTIL AGENCY IS ESTABLISHED The Kiley Group does not endorse or recommend any particular product or service, including financial products or services, and, nothing contained in The Kiley Group Web Sites is intended to constitute professional advice, including but not limited to, investment or tax advice. |