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How to Find and Purchase Bank Owned Properties
Bank owned properties, also known as Real Estate Owned (REO) properties, offer unique opportunities for homebuyers and investors to purchase homes at potentially lower prices. These properties have been foreclosed upon and are now owned by the bank, often being sold...
Demystifying Escrow: How Does Escrow Work in Real Estate Transactions?
What is Escrow? How does escrow work? First, it’s essential to understand what escrow is. In real estate, escrow is a neutral third party that holds funds, documents, and instructions related to the transaction until all the terms of the agreement are met. This...
What is REO Foreclosure?
When a homeowner can’t pay their mortgage and a resolution is not possible, the property may eventually be seized and sold by the bank. This process is called foreclosure, and it can create opportunities for buyers in the real estate market. One particular type...
Escrow Real Estate Taxes 101
What is Escrow? Escrow is a financial arrangement where a trusted third party is given funds to hold and disperse according to an agreed-upon contract. In the context of real estate transactions, escrow is often used in the purchase of a home. An escrow account...