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This property is Real Estate Owned, or REO. The property was foreclosed and repossessed by a lender when the owner failed to make payments. A bank is now the owner. Since banks are not in business to own homes, they are usually interested in selling foreclosed homes quickly at attractive low prices. A list price is published but reasonable offers can be submitted for consideration. Offers can be submitted through the official Listing Agent but in some cases, no agent is listed and offers can be submitted the bank owner directly.
The government sponsored agencies Fannie Mae or Freddie Mac own this property after foreclosing on the original owner. Fannie Mae and Freddie Mac are chartered by the U.S. government to help families of low- and moderate-income to become homeowners. A published list price is stated but any reasonable offer may be considered. Offers go through the published listing agent. This contact can provide more details about this property, as well as the current special financing programs that may be available through Fannie Mae or Freddie Mac.