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BROKER PARTICIPATION Programming Owned Real Estate in SC, WV and Other Properties in NC July 14 July 24, 2015IRON HORSE AUCTION CO., INC. will pay a referral fee in the amount of two percent (2%)
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How to fill out bank owned real estate

01
Obtain a list of bank owned real estate properties available for purchase.
02
Research and gather information on each property including location, size, condition, and price.
03
Visit the properties in person to inspect and assess their condition.
04
Determine your budget and financing options for purchasing the property.
05
Contact the bank or financial institution that owns the real estate to express your interest and inquire about the purchasing process.
06
Gather all necessary documents required for the purchase, such as proof of funds, identification, and any additional paperwork requested by the bank.
07
Review and complete all paperwork involved in the transaction, including purchase agreements, disclosures, and any other legal documents.
08
Arrange for a professional inspection of the property to identify any potential issues or repairs needed.
09
Secure financing or provide payment for the purchase as per the agreed terms.
10
Close the transaction by signing all necessary documents, transferring ownership, and taking possession of the bank owned real estate.
11
Ensure you properly transfer utilities and update any necessary accounts or registrations for the property.

Who needs bank owned real estate?

01
Investors: Bank owned real estate can be an attractive investment opportunity for individuals or companies looking to acquire properties at potentially discounted prices.
02
Homebuyers: Individuals in the market for a new home may find bank owned real estate appealing, especially if they are willing to invest time and effort into renovations or repairs.
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Real Estate Developers: Bank owned real estate can provide developers with opportunities to acquire land or existing structures for new development projects.
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House Flippers: Those experienced in real estate renovation and resale may seek out bank owned properties to purchase at a lower cost and renovate for potential profit.
05
Business Owners: Entrepreneurs may find bank owned commercial properties suitable for their business needs at a potentially lower cost compared to the current market.
06
Rental Investors: Individuals or organizations looking to expand their rental property portfolio may consider bank owned real estate as potential investment properties.
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Bargain Hunters: Some people simply enjoy searching for good deals and may be interested in bank owned real estate as a way to find discounted properties.

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Bank owned real estate refers to properties that have been foreclosed on and are now owned by the bank.
Banks or financial institutions that have foreclosed on properties are required to file bank owned real estate.
To fill out bank owned real estate, the bank must provide detailed information about the property, such as address, value, and any outstanding liens or mortgages.
The purpose of bank owned real estate is for the bank to liquidate the property and recoup any losses from the foreclosure process.
The information that must be reported on bank owned real estate includes property address, value, outstanding liens, and any other pertinent details about the property.
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