J.R. Collins
Licensed Realtor PH: 417.317.2770
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REPO'S or Bank Owned Properties 
Repo's, REO's or Bank Owned Properties are a bit more difficult to purchase but can be a very good investment.  All foreclosure properties are purchased in the "As is/As Seen" Condition and the seller will not make any improvements or repairs to the property.
 
Prior to bidding on the property, foreclosure companies most often require:
  • A Pre-Approval Letter from your Lender
  • $500 earnest money (Cashiers Check) for a purchase of $50,000 or less
  • $1000 earnest money (Cashiers Check) for purchases over $50,001

 

After agreeing on a purchase price and signing a contract to purchase:

  • At your own expense, you have 10 (sometimes negotiable) days to do any inspections such as electrical, structural, plumbing, roof, etc. During those 10 days, if you find any damages you can then relinquish your right to the purchase or you can re-nogiate the purchase price.
  • Some foreclosure companies offer financing when you purchase their listing.
  • At the closing of the property, you obtain clean and clear title to the property.

 

 
 

 IF YOU WOULD LIKE TO RECEIVE A COMPLETE AND UPDATED LIST OF BANK OWNED PROPERTIES:

 email

jr@jrcollinsrealtor.com

with your request, it will be sent to

you within 24 hours .

 

This information is provided by MarketLinx IDX downloads, and is deemed reliable but not guarranted. Thank you to the members of OGAR for their cooperation in our efforts to compile this information as a free service to the public.

  

HUD, Fannie Mae and Freddie Mac Foreclosures

These properties become available and prices change daily, please call 317-2770 for up-to-date availability, current price and bid-time closing dates. 

 

SHORT SALES - PRE-FORECLOSURE

Short sales are available, a few with some type of financing available. Out of respect for the seller of these properties, we do not display short sales in this format.  However, we do keep a list of short sales available. This list changes daily, so for an up-to-date- list sorted by area, please call J.R. at 317-2770 or email jr@jrcollinsrealtor.com.