Foreclosures and Bank Owned Properties

An REO (Real Estate Owned) is a property that goes back to the mortgage company after an unsuccessful foreclosure auction. You see, most foreclosure auctions do not even result in bids. After all, if there was enough equity in the property to satisfy the loan, the owner would have probably sold the property and paid off the bank. That is why the property ends up at a foreclosure or trustee sale.

Foreclosure sales begin with a minimum bid that includes the loan balance, any accrued interest, plus attorney’s fees and any costs association with the foreclosure process. In order to bid at a foreclosure auction, you must have a cashier’s check in your hand for the full amount of your bid. If you are the successful bidder, you receive the property in “as is” condition, which may include someone still living in the property. There may also be other liens against the property.

Since what is owed to the bank is almost always more than what the property is worth, very few foreclosure auctions result in a successful sale. Then the property “reverts” to the bank. It becomes an REO, or “real estate owned” property.

Click HERE to See ALL St George Utah Foreclosure/Bank Owned Homes for Sale

Click HERE for the HOT SHEET-JUST LISTED St George FORECLOSURES

Below are some of the featured Foreclosure Properties in St George Utah. Please call or email if you have would like more information.

20-210247 - 25 Cottonwood, Hurricane, UT
25 Cottonwood, Hurricane
Mobile home on his owned lot in Harrisburg Lakeside Estate, great view of the Red Mountain. Heating and A/C replace completly 2017, 1 Bed 1Bath 2 double...
$89,900
Bedrooms:
1
Bathrooms:
1
Sq. Feet:
560
Lot Size:
0.04 Acres
20-210078 - 5358 N 2950 W, Cedar City, UT
5358 N 2950 W, Cedar City
Cute, Larger Manufactured home on a large half acre lot in Cedar City. Lots of potential. This property may qualify for Seller Financing (Vendee). Please...
$110,000
Bedrooms:
4
Bathrooms:
2
Sq. Feet:
1,742
Lot Size:
0.50 Acres
19-207954 - 3921 W 120 N, Hurricane, UT
3921 W 120 N, Hurricane
Elevated status, live in this quiet community located on a plateau. This neighborhood will stay quite because this is for 55 and older. The carport has been...
$134,900
Bedrooms:
2
Bathrooms:
2
Sq. Feet:
1,456
Lot Size:
0.11 Acres
19-209612 - 635 W Rider, Kanab, UT
635 W Rider, Kanab
Lots of potential with this great home in the Ranchos. HUD home sold \'\'AS-IS\'\' by electronic bid only. For a property condition report, Forms and...
$170,000
Bedrooms:
2
Bathrooms:
2
Sq. Feet:
1,333
Lot Size:
0.36 Acres
19-200672 -  THE LEDGES, St George, UT
THE LEDGES, St George
Great flat lot in the beautiful Ledges of St. George. Across the street from the 17th tee of the golf course with 360 degree views!
$190,000
Sq. Feet:
17,860
Lot Size:
0.41 Acres
19-208281 - 80 N Madera, Ivins, UT
80 N Madera, Ivins
Great 5 bedroom house. Huge gourmet kitchen with 2 islands, built ins in dining and living room, Travertine floors, Two fire places, huge back patio, and...
$535,000
Bedrooms:
5
Bathrooms:
2.5
Sq. Feet:
3,089
Lot Size:
0.35 Acres
19-206211 - 96 Madera W, Ivins, UT
96 Madera W, Ivins
Great Single Level Home In West Ivins... 5 Bedrooms, 3.5 Bathrooms, 2 Laundry Rooms, With A Very Spacious Floor Plan. Views, Of The Stunning Red Mountain...
$550,000
Bedrooms:
5
Bathrooms:
3.5
Sq. Feet:
3,391
Lot Size:
0.34 Acres

 

 

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