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.

19-204603 - 1160 E Telegraph, Washington, UT
1160 E Telegraph, Washington
Great 55+ Winter Haven RV Resort. This quaint two bedroom unit has vaulted ceilings and tons of potential with spacious rooms and a garden tub in the master...
$95,000
Bedrooms:
2
Bathrooms:
2
Sq. Feet:
840
Lot Size:
0.05 Acres
19-203155 - 258 N 800 W, Cedar City, UT
258 N 800 W, Cedar City
Cute Older Home right in the heart of Cedar City. Close to EVERYTHING. Large Detached Garage. HUD home sold \'\'AS-IS\'\' by electronic bid only. For a...
$115,000
Bedrooms:
2
Bathrooms:
1
Sq. Feet:
1,357
Lot Size:
0.25 Acres
19-202665 - 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...
$185,000
Bedrooms:
3
Bathrooms:
2
Sq. Feet:
1,932
Lot Size:
0.11 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
19-204444 - 1825 W Mathis Park, St George, UT
1825 W Mathis Park, St George
Must see! Beautiful 3 bedroom home with 2 car garage, open concept kitchen/family room with fireplace and Sliding glass doors leading out to the patio. This...
$229,000
Bedrooms:
3
Bathrooms:
2
Sq. Feet:
1,504
Lot Size:
0.07 Acres
19-201685 - 1465 W 710 N, St George, UT
1465 W 710 N, St George
BANK OWNED This home is at the end of the curve with common area adjacent to the backyard. Main level has Kitchen , dining, living room, 1/2 bath, office,...
$275,000
Bedrooms:
3
Bathrooms:
2.5
Sq. Feet:
1,917
Lot Size:
0.03 Acres
18-199117 - 4803 Ironwood, St George, UT
4803 Ironwood, St George
AMAZING Views on the 12th Hole of SunRiver Golf Course with Your own Private Pool. Lots of room inside to make this your own.. Please Read ALL Attached...
$405,000
Bedrooms:
3
Bathrooms:
2.5
Sq. Feet:
2,525
Lot Size:
0.14 Acres

 

 

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