|Bank of America Real Estate Owned (REO) is a term to single out those properties that come under the legal ownership of the bank after the complete process of foreclosure. These foreclosed properties are a result of the failed obligations of mortgage payment by their original owners. The bank has a special department known as Bank of America REO Department that handles all issues concerning these foreclosed houses such as REO Asset Management, Property Inspection and finding buyers. Bank of America REO brings diverse opportunities to home seekers as well as real estate investors. The properties are sold at a price less than their market value and hence are popular equally among all sections of property seekers.
Bank of America REO Properties
You can search Bank of America REO properties online by visiting its website. Enter search parameters like locations, price band, number of beds or baths etc and the result will bring you a list of properties matching your specific requirements. To gain access to the entire inventory of Bank of America REO properties you are required to create an individual account. Once you are registered with the bank, it will keep you informed about the latest property added to its inventory. You are provided with a watchlist which helps you keep track of the properties that are constantly added to or deleted from the inventory. You are also allowed to save your search results and set up preferences for updates on new listings.
Bank of America REO Department
Bank of America REO Department is at the center of all activities that are required for the maintenance of properties the bank owns. The department looks after the Asset Management requirements of the foreclosed houses and delegates tasks to Asset Managers. There are several REO Asset Management Companies and Vendors that sell the real estate owned properties of Bank of America. You can find the assistance of BOFA REO Agents helpful while buying a property from the bank. A real estate agent or broker can sign up to get free access to interest rates alert and other useful information provided by Bank of America.
To find Bank of America REO properties and also to register as a buyer, follow the link given here.