Properties that have gone through the foreclosure process and are now owned by a commercial bank or mortgage company.
Properties that have been foreclosed by FHA or another government agency and are now being sold through the HUD auction process.
Typically, first options go to owner occupants.
These are properties that the listing broker has classified as needing fix-up. There is no standard as to what this means, but typically they are prices somewhat below market.
There are many opportunities to be found in the Bank Owned listings. HUD properties are not typically going at greatly discounted rates these days since they are all sold in an auction type format. The better properties tend to get bid up to near full market value. We are finding the best deals among the Bank Owned homes.
Denver Foreclosure Brokers
Prudential Colorado Real Estate
Box 631382, Littleton, CO 80163
(303) 791 - 7817
e-FAX (303) 997 - 1098 e-mail us