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Kathy Lacny2357 Huguenard Dr. Ste.100Lexington, KY 40503(859) 489-2880lacny59@gmail.com
Kathy Lacny
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Bank Owned Properties Lexington

As you have decided to go with bank owned properties in Lexington, you will want someone who can help you understand exactly what this process entails. These houses have reverted to the mortgage lender after the home fails to sell in a foreclosure auction. Once the bank owns the property, it will handle eviction, if necessary, pay off tax liens and may do some repairs.

While they are a significant part of the housing market can great deal for buyers, but there are some things of the housing market can teach you if you aren’t careful. Bidding on an REO isn't quite like making an offer on a privately-owned home, where owners generally respond quickly. It's typical for an REO offer to be reviewed by several individuals and companies, which means it can take weeks to get a response.

As you have begun to look for the bank owned properties in Lexington, you will not be disappointed in the information I will provide to you. Banks must demonstrate to shareholders and investors that they worked hard to get the best price for the property, so it's likely your offer will be met with a counter offer.

If your credit is good, you may find your bank is willing to loan the full price of the foreclosure – maybe more if extensive repairs are needed. Some lenders require a 10 percent down payment if the foreclosure is going to be used as a rental. No matter what your eventual purpose is, please contact me today.

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Weather of the Day

Conditions for Lexington, KY at Dec 17, 2018current weather icon

Current Conditions:

Overcast, 14.35 F


Dec 16, 2018 - Mostly cloudy throughout the day.

High: 38.65 Low: 13.9

Dec 17, 2018 - Mostly cloudy throughout the day.

High: 35.4 Low: 13.75