Fayetteville Georgia Bank Owned Homes
The median cost of a bank owned home in Fayetteville is $119,900 dollars. That is $80,000 lower than the median cost of a home in Fayetteville. There are currently 36 active listings available for purchase in these homes, details about each of those homes can be found by simply clicking on the picture of them, or by following this link to Fayetteville Bank Owned Homes For Sale Read about bank owned homes under the listings.
Are you looking for a bank owned home in Fayetteville GA? Then each listing that is considered bank owned is listed below. Similar to foreclosures and short sales, this is a category which will save you lots of money (and time) in finding a discounted home price!
Each one of these bank owned houses in listed in the MLS as bank owned. Bank owned is another term for a lender owned home. A bank or a lender first lends money to a borrower which typically occupies or rents the home out. When that person fails to meet the payment agreement, the bank or lender then puts the home up for an auction on what the amount owed was. Since many of the homes dropped in value so fast, the amount that the auction starts at is far more than what the home is valued at, making the home bank owned. What banks then try to do is sell it underneath the market value to rectify what they can from their lost home value. That’s why purchasing a bank owned home can be such a smart decision.