Bank Owned Real Estate in Phoenix

Phoenix bank charters require a certain amount of solvency be maintained in an effort not to weight a Phoenix banks liability too heavily in Phoenix. The loss-mitigation division of a Phoenix bank is motivated to move non-performing assets out of the Phoenix bank. During foreclosure if there are no buyers of the Phoenix real estate property the Phoenix property reverts to the Phoenix bank and is offered for sale through their REO division. Many Phoenix banks will negotiate down the payoff (a short sale) in an effort to move the asset allowing profitability for the investor due to purchasing at a discount to market value. This process again allows for clean transfer with limited risk as inspection of the Phoenix real estate property can be conducted prior to purchase.

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