REO property is selling below appraisal
Many of in the know real estate investors know that in today’s market bank owned property is the property they want to buy right now because most of these homes are selling way below appraisal value. These properties are good for the investor because they will be able to fix them up for little or nothing and either use them as rental properties or resell them at a very sizable profit.
Houses that require being remodeled or in need of repairs are in big demand by real estate investors. They like these homes because they can fix them up and then resell them to first time home buyers.
