Purchasing real estate or homes directly from the bank or lender is preferred by many real estate investors and home buyers because it can be a more predictable and less-emotional home purchase process than buying from the distressed seller who is facing foreclosure and may or may not go through (or be able to deliver title) with the transaction.
First, most home buyers do not realize the first misconception - and it's a big one! Not every Bank Owned Property or REO is good deal. Many banks with property for sale in the Tampa area seek to obtain market value for properties that they have foreclosed on in order to attempt to recoup as much of their losses against their loan balance as possible. Others lenders are more focused on liquidating REO Real Estate Owned - an Accounting Term for Banks) inventory as these properties represent non-performing assets have a severe negative impact on the lenders books and financial condition. We have extensive knowledge of the foreclosure market and have relationships with asset managers and REO bank officers -- knowledge which is very valuable to a home buyer or investor looking to pick up a foreclosure at a bargain price.