Clark County & Vancouver WA Bank Owned Homes, Foreclosures and HUD Homes
Foreclosures, Bank Owned, Short Sale, HUD Homes, and Fannie Mae Homes All In One Place!
These are some of the hottest properties for sale in our current market. Many of these homes represent excellent home choices in the Vancouver, Camas and Portland Oregon area.
This site provides several pages of residential bank owned and short sale properties, as well as residential acreage properties and Duplex / Multi-Plex Rentals; all providing excellent opportunities for instant equity.
How do you purchase a Foreclosure or Pre-Foreclosure Home? See our Tips to Buying a Bank Owned or Short Sale Home below.
The nicest of these homes, when priced right, are sold so quickly you may not see them on these pages during your regular visits. If you are interested, in immediately being alerted and seeing the new listings for these homes that meet criteria more specific to your interests and needs, please e-mail or call us -- we're glad to set up a hot-sheet search for you!
You may also freely use the home search tools we are providing you on this website.
However, Foreclosures, Bank-Owned homes and Short Sales for Vancouver can only be screened using the RMLS system (per RMLS rules). Hurray!!! The MLS now allows us to show you ALL Vancouver WA Bank Owned Homes / Foreclosures FROM ALL the real estate companies, not just the RE/MAX listings!!!
NOTE: The Inventory in Clark County for Foreclosed and Bank Owned Homes is starting to shrink. Thus, the correctly priced Foreclosure Listings will sell FAST, and often nowadays with multiple bidders. Please don't wait to Call us if you like any of these homes you see!
Yes, there are differences in buying a Foreclosure (Bank Owned) home or, Pre-Foreclosure (Short Sale) home; there are common elements as well.
Common Elements include:
If you need a loan to purchase the home, you MUST have a lender pre-approval letter in your hand, and up-to-date! If you are buying with all-cash, you must have a Proof-of-Funds letter from your bank or credit union. You WILL be ahead of half of the shoppers you are competing with if you complete this assignment right away!
These homes are sold "As-Is" which means any repair or fix-up items are up to you, the home's new owner.
Get the Home Inspection performed right away by a professional! If a major hidden, budget-busting defect is found by the Inspection, when performed within the time-line, you can get out of the deal.
The nicer the home, the more competition you will have with other home shoppers -- be prepared to Act right away!
Be prepared to Close the Sale within 30 days or less once your offer is accepted! The banks involved don't care if you have another month on your lease or for some reason cannot move right away. They want this property off their books right away.
Unique to Foreclosure Homes:
The decision makers at the bank work week days thus, your offer will usually be reviewed within two business days. For example, if you write an offer on a bank owned home on Friday night, the bank won't see it until Monday Morning. You will likely hear back Tuesday or Wednesday.
If you are competing with other bidders, the bank usually comes back to all bidders and says: "we will give you two days to come back with your best and final offer." This is a one-shot deal folks -- be prepared to pay more if you want to win the bidding!
Unique to Pre-Foreclosure Homes:
A response back from the lending bank(s) can take a very long time, even six weeks or longer depending on the bank involved. We write offers that let you get out of these deals if the bank does not get back to you in time.
You can write low offers. However, be careful if you truly want to be the successful purchaser.
Expect updates from us, your real estate agents on a once a week, maybe twice a week basis prior to bank approval of your offer. Once your offer is accepted we will be in regular contact with you to complete the transaction process.
Of course there are a few more details and differences but the items listed here will give you a good start!
Please call us with your specific questions!
We hope you liked this collection of all the Foreclosure and Bank Owned homes available in Clark County and Vancouver Washington. If you would like to see any of these homes (and the good ones go fast!), please call us right away!