What Is Foreclosure And REO?
REOs may be vacant or in need of repair. But often they look and feel just like other homes for sale, and they're listed by a real estate agent. Although they're typically sold as-is, it's not uncommon for an REO to be in move-in condition. But the process of buying an REO is different than other home purchases. An REO property is one that's been foreclosed on and is now owned by the bank.
REO properties fall into two categories:
Move-in condition: The home is in acceptable condition and not in need of rehabilitation. You could buy this property and move in quickly. Damaged: A damaged REO generally needs repairs and rehabilitation before you can move in. These types of REOs are attractive to investors and some buyers who aren't daunted by the work involved in rehabbing a property. Often, you will get a bigger discount on damaged REO properties, but you have to consider refurbishing costs. Where can you find REOs for sale? I have an extensive list of websites and subscriptions to find and learn about foreclosures and REO's.Just contact us. Oddly enough, it isn't as easy as you think to spot and buy an REO. Most banks and other mortgage institutions do a poor job of marketing these properties.
Pros of buying REOs:
• The process is similar to a "normal" home purchase in that you can secure financing using a traditional mortgage. (Buying an REO property is nothing like buying a foreclosure property at auction with cash.)
• You'll be able to do inspections and secure financing before completing the purchase.
Cons of buying REOs:
• The process can take longer than a regular home sale.
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Taco House
A home town favorite! The Taco House is a hidden gem in the Great Lakes area. If your looking for delicious Mexican food give this a try. Taco House is not open during the winter months but you are able to put in a freezer order before they close to satisfy your craving on those cold days. Whatever you decide to order don't forget the Taco House hot sauce, you won't be disappointed.
Brooks Golf
Enjoy an Unparalleled Golf Experience at Brooks Golf featuring 27 holes and immaculate bent grass fairways and greens!
Nestled among the Iowa Great Lakes is Brooks Golf. Originally constructed as an 18 hole layout by Val Brooks in 1932, the course attracted many famous players such Sam Snead, Walter Hagen, and Babe Didrikson Zaharias for exhibition matches and hosted the Iowa Open. In more recent times, Brooks has hosted the Iowa PGA Section Championship and the Barb Thomas Pro-Am.
Always known for its beauty and excellent course conditions, Brooks has matured into an excellent parkland layout for Midwest vacationers. In 1995, Brooks began an expansion to 27 holes, thus beginning one of the most aggressive improvement projects for golf in Northwest Iowa. Brooks Golf blends masterful design with superb playing conditions featuring bent grass fairways and greens. We welcome you to play and enjoy your stay in Okoboji.
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