Due to the scarcity of retail housing inventory, owner-occupant buyers are navigating toward REOs, where they face three significant obstacles when buying at REO auctions.
“Retail buyers may be surprised when dealing with the distressed condition of most REO homes, which often have months or years of deferred maintenance,” said Auction.com VP of Market Economics Daren Blomquist.
In the latest episode of Disposition Download, Blomquist explores those three obstacles and shows how local community developers are stepping in to bridge the gap between distressed REO and renovated homes for owner-occupants. Watch now.