FDIC REO Property Listings
Federal Deposit Insurance Corporation (FDIC) has a REO property search online. It is a very basic search function with listings in every state. What is not basic is the type of properties you can find. Not only do they have residential listings but all sorts of commercial properties like Office, Hotel, Restaurants, Farm Land and Industrial.
The listings them self have basic information about the property. We did not see many pictures on the listings we reviewed and some had incomplete broker information so you will need to get on the phone with the broker to get some concrete details. They do also have a bargain property section that looks to have some reduced priced real estate mostly located in the hard hit areas in the U.S.
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My comment is about HUD owned property. The way the agents list them, puts these properties at a disadvantage with all the other properties. One picture at best, poor directions and lack of follow up with consumers and agents. The attitude is take it or leave it. Thus the picture is that this property is not worth even close to other non REO or HUD property value. In some cases they are not but not in all. My feeling is that alot of agents feel that they once selected ( only agents with many years get considered) it is a privledge. With proper marketing and a real desire to get the true value of the property we the tax payers may not have as many losses in the future.