web analytics

Profit from REO Homes

REO, (“Real Estate Owned”), is a term frequently used to describe a residential real estate property that has been taken over by the lender, bank or institution that originally financed it. This type of repossessed inventory is widely prevalent among large mortgage lenders and financial institutions that finance residential homes such as single-family homes, condos and multi-family homes.

Search for CitiBank REO Homes for Sale

CitiBank is one of the largest players in residential financing. The houses they own as their REO were repossessed from borrowers who defaulted on their Citi financed mortgage loans. Depending on the prevailing local and national real estate market conditions, Citi Bank REO homes may be priced well below their actual value. Distressed properties such as Citi REO & foreclosures are often priced to facilitate a quick sale. Homeowners and investors have been able to take advantage of this situation to profit handsomely from REO property investments.

In order to begin the search through CitiBank REO listings, all an investors needs is the state in which they are planning to buy.

All the REO property information is detailed on their individual listing page on the CitiMortgage REO website. The name and contact information of the REO listing agent is provided to enable interested parties to directly engage with the agent to set up appointments and visits to the listed Citi REO property.

Not all the REO properties in the inventory of CitiMortgage Department are listed on its REO listings site. Due to this, one may not find all CitiBank owned REO sites on their site.

A property may not be listed if it’s currently occupied, in redemption period, or going through rehab, repair work. It’s best to contact a real estate agent or broker to get the current status of a CitiMortgage REO home.

Information related to purchase a Citi REO property.

The best person to contact is the listing agent assigned to a property. The agent should provide the buyer with information related to property and seller’s guidelines. To make a binding offer on a Citi property, the buyer should work with the REO listing agent. A buyer’s agent representing the borrower should gather all the necessary info, forms and docs to submit the offer. After receiving a properly submitted REO contract, the agent forwards it CitiMortgage REO department for further comprehensive review.

Borrowers who are looking to finance their purchase of a CitiBank REO home must get pre-qualified before proceeding to make an offer.

If the offer submitted on a CitiMortgage REO is contingent on successful mortgage financing, then the seller requires that all such buyers consult Nationstar Mortgage and apply for a pre-approval. For current info about pre-approval requirements, loan programs and their features, contact Nationstar Mortgage on this toll-free number: 888-820-0168.