Buying a Bank-Owned House
Requires Patience, and Then Some
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Can you really get a bargain buying
a bank-owned home- known in the industry as real-estate owned, or REO? You may
experience many obstacles, frustrating waits, and a bidding wars. But, you also
may end up with a home well below market value. A few tips from those who've
been through the process:
 · Find an expert.
· Consider a fixer.
· Work with intermediaries.
· Patience helps.
· Inspect carefully.
· Look for back-end concessions.
· Make your best offer.
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