Chattanooga REO Properties

Search all available REO homes for sale in Chattanooga Tennessee

Finding a Chattanooga REO Home

REO stands for Real Estate Owned meaning it it a property that is owned by the bank and is already in their portfolio. The advantages of purchasing a REO property are that it is likely discounted because the bank wants to get it off of their books to release capital for more future home mortgages and that the process will be more like a typical purchase. Unlike a short sale that could take months to get an approved contact and close, a REO home can be purchased and closed within 45 days and merely will require a few extra bank foreclosures. However you should enlist the help of a experienced Chattanooga buyers agent as many of these properties have issues that may go unnoticed by an untrained eye.