There are a dozen US government REO properties websites offering some great foreclosure house buys. These government owned REO properties range from HUD and Fannie Mae to the IRS and US Marshal’s Service listings.
Each government REO listings website has it’s own exclusive properties and unique purchasing procedures. Most require buyers to use a real estate agent to submit their offers. All government REO properties are sold “as is” so buying these properties is risky for novice home buyers.
US Government REO Properties
- HUD House Store – HUD homes listings sorted by state
- Fannie Mae REO – Government owned REO properties
- IRS REO – IRS real estate property for sale by auction at property site
- Freddie Mac REO – Freddie Mac real estate foreclosure listings
- USDA REO – Foreclosed rural properties including ranches and farmland
- FHFA REO – Federal Housing Finance Authority property listings
- FDIC REO – Federal Deposit Insurance Corporation REO properties
- SBA REO – Small Business Administration REO property listings sold by online auction
- U.S. Marshals Service Properties – Federal REO listings
- Treasury Department REO – Government owned properties to be sold by public auction onsite
- VA REO – Veterans Administration loan foreclosure properties
- HomeSales.gov – Single family homes for sale by the U.S. Federal Government by public auction
When placing an offer for government REO properties, you should use a real estate agent with the proper qualifications for submitting offers to HUD, Fannie Mae, etc.
With online auctions, you obviously don’t need a real estate agent. But, you should get advice from other experienced auction bidders.
When bidding in public auctions at the courthouse steps, or at the property location, be sure you understand the obligations of a winning bidder. When you win a property auction, you have a fairly short time window to present certified funds to close the transaction.
That said, buying government REO properties is still one of the best ways to buy foreclosures.