REO or Real Estate Owned occurs when houses are foreclosed when property owners become unable to pay principal or/and interest payments due on their home loan. This property is then made to undergo a foreclosure process, resulting in an auction.
Ample time is provided to owners for remedying the situation before the house goes into foreclosure. Some people prefer this, since distressed properties are often available at discounts, providing more value for money.
These customers are looking for foreclosed properties caused due to financial issues faced by the owner.
There are many ways to find these properties. You also need to be aware of several things before finding yourself a proper agent/agency to help you out.
It helps to be aware of the reasons behind foreclosure and the process to be followed for finding and purchasing such properties.
REO Properties for Sale
![Welcome to your charming home in Fullerton! This one-story residence boasts 3 bedrooms and 2 bathrooms, offering comfort and style at every turn. Step inside to discover wood flooring throughout, creating a warm and inviting atmosphere. The heart of the home is adorned with a cute fireplace nestled in the living room, perfect for cozy gatherings and relaxation. Retreat to the primary bedroom featuring a large closet, providing a master bathroom. Indulge your culinary desires in the upgraded kitchen, where modern touches and functionality blend seamlessly and flow into the dining area and living room. Whether it's morning coffee or gourmet dinners, this kitchen is sure to inspire your inner chef. With its convenient one-story layout with an upgraded bonus room that enters the patio and backyard, this Fullerton gem promises a lifestyle of comfort and convenience. Nearby shopping, restaurants, schools, parks and easy access to the 91, 57 and 5 freeways, No HOA! Don't miss the opportunity to make this delightful abode your own! Welcome to your charming home in Fullerton! This one-story residence boasts 3 bedrooms and 2 bathrooms, offering comfort and style at every turn. Step inside to discover wood flooring throughout, creating a warm and inviting atmosphere. The heart of the home is adorned with a cute fireplace nestled in the living room, perfect for cozy gatherings and relaxation. Retreat to the primary bedroom featuring a large closet, providing a master bathroom. Indulge your culinary desires in the upgraded kitchen, where modern touches and functionality blend seamlessly and flow into the dining area and living room. Whether it's morning coffee or gourmet dinners, this kitchen is sure to inspire your inner chef. With its convenient one-story layout with an upgraded bonus room that enters the patio and backyard, this Fullerton gem promises a lifestyle of comfort and convenience. Nearby shopping, restaurants, schools, parks and easy access to the 91, 57 and 5 freeways, No HOA! Don't miss the opportunity to make this delightful abode your own!](https://media.crmls.org/medias/9a281956-e135-4124-8a99-647de0b8099e.jpg)
1506 S Gilbert Street Fullerton, California
3 Beds 2 Baths 1,344 Sq Ft
Listed by: DOROTHYMACIAS, DRE #02044858 from EXCELLENCE RE REAL ESTATE
Foreclosure Properties for Sale
![Welcome to 12664 Chapman Ave., Unit 1306 in Garden Grove. This Potentially Stunning well-constructed DR Horton (Top 3 Home Builders) built 3 bedroom, 2 bath condominium at the Chapman Commons features the best locale and largest open floor-pan in building with iconic views of Disneyland fireworks, Angels Stadium and forever blue sky views. Simply the best prime real estate location between Long Beach and Irvine adjacent areas. Some of the desireable features include an open kitchen with center top island, granite counter tops, matching granite in the kitchen and bathrooms and dining ideal for entertaining, walk-in closets, spa-like master bath, interior laundry room and central air and heating. Enjoy Views from every bedroom and a pair of terraces—one off the dining room and the other off the Main Bedroom. Enjoy stress-free living: Nearly full service HOA amenities included: fitness center, gated community, resident-only pool, clubhouse--with special privileges to same to host parties, gatherings etc., dog friendly community, outdoor BBQ grill and outdoor fireplace; within walking distance to local stores including Target, Vons Pavillion and fine restaurants. Parking includes 3 car spaces and storage cage. With its premier location on the third floor with extraordinary views of the City, Disneyland fireworks, Hotel Row and Angels fireworks, this home would be ideal for First Time home buyers, Snow birds and Investors. Investors: Looking to Buy & Hold? Take a look at this property. Needs some TLC but for the right Buyer? This could be your first and last home to make it yours. Ask about a Carpet credit which is being is offered. Please note that the 4-photos with furniture are VIRTUALLY STAGED!!!! Keep that in mind while previewing the photo gallery. Thank you. See you in Escrow! Sorry - complex does not qualify for FHA OFFERS!!! Conventional, VA or CASH offer is acceptable. Welcome to 12664 Chapman Ave., Unit 1306 in Garden Grove. This Potentially Stunning well-constructed DR Horton (Top 3 Home Builders) built 3 bedroom, 2 bath condominium at the Chapman Commons features the best locale and largest open floor-pan in building with iconic views of Disneyland fireworks, Angels Stadium and forever blue sky views. Simply the best prime real estate location between Long Beach and Irvine adjacent areas. Some of the desireable features include an open kitchen with center top island, granite counter tops, matching granite in the kitchen and bathrooms and dining ideal for entertaining, walk-in closets, spa-like master bath, interior laundry room and central air and heating. Enjoy Views from every bedroom and a pair of terraces—one off the dining room and the other off the Main Bedroom. Enjoy stress-free living: Nearly full service HOA amenities included: fitness center, gated community, resident-only pool, clubhouse--with special privileges to same to host parties, gatherings etc., dog friendly community, outdoor BBQ grill and outdoor fireplace; within walking distance to local stores including Target, Vons Pavillion and fine restaurants. Parking includes 3 car spaces and storage cage. With its premier location on the third floor with extraordinary views of the City, Disneyland fireworks, Hotel Row and Angels fireworks, this home would be ideal for First Time home buyers, Snow birds and Investors. Investors: Looking to Buy & Hold? Take a look at this property. Needs some TLC but for the right Buyer? This could be your first and last home to make it yours. Ask about a Carpet credit which is being is offered. Please note that the 4-photos with furniture are VIRTUALLY STAGED!!!! Keep that in mind while previewing the photo gallery. Thank you. See you in Escrow! Sorry - complex does not qualify for FHA OFFERS!!! Conventional, VA or CASH offer is acceptable.](https://media.crmls.org/medias/731fbd98-20bb-4d2e-8f38-038c8ed82f8d.jpg)
12664 Chapman Avenue 1306 Garden Grove, California
3 Beds 2 Baths 1,343 Sq Ft
Listed by: AndrewFomai, DRE #01420186 from First Team Real Estate