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Real estate owned (or "REO") property is owned by a lender, typically a bank, government agency, or government loan insurer, after an unsuccessful sale at a foreclosure auction. A foreclosing beneficiary will typically set the opening bid at a foreclosure auction for at least the outstanding loan amount. If there are no bidders that are interested, then the beneficiary will legally repossess the property. This is commonly the case when the amount owed on the home is higher than the current market value of this foreclosure property, such as with a high loan-to-value mortgage following a real estate bubble. As soon as the beneficiary repossess the property it is listed on their books as REO and categorized as an asset (non-performing).

So what does this mean to you?
As an investor or first time home buyer, this means you can purchase a home, and get a great return on investment.

Where do we come in?
At SAW CC, we have over 30 years of experience working with HUD, banks, asset management companies, investors, and first time home buyers. Not only do we have the experience to find you an REO home or investment, but we also have the resources to set you up with the best possible financing.

Please take time to explore our website and see examples of current and future properties we have available. You will notice we have also provided lists of REO services and partners which we have established relationships with. For additional questions, please refer to the links to the left.

Northern Erie & Niagara Counties
1333 Strad Ave Suite 114
North Tonawanda New York 14120
Office: (716) 695-0005
Fax: (716) 535-1711
Southern Erie, Wyoming & Cattaraugus Counties
221 Walnut St
East Aurora New York 14052
Office: (716) 655-7253
Fax: (716) 535-1711

Scott A. Walters | Broker/Owner
Anna Dobrowolski
John Sullivan
Lori Koerner
Joseph Stanek