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Bank-Owned Homes For Sale In Colorado

Bank-Owned Homes for Sale in Colorado

REO, foreclosure and HUD homes: 303-955-4220

Bank-owned homes for sale in Colorado: REO and foreclosure homes on the Front Range

Looking for bank-owned homes in Colorado? These REO and foreclosure homes come from banks and servicers that took the property back at a public trustee sale. The Kenna Real Estate Group tracks bank-owned homes, HUD homes and short sale homes across Denver, Aurora, Lakewood, Arvada, Thornton, Highlands Ranch, Colorado Springs and the rest of the Front Range. Ask us for a bank-owned home before it hits the market. Call or text 303-955-4220. A live person answers. Not a robot, not a phone tree.

Foreclosure and bank-owned (REO) homes in Colorado

2 Properties Found
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Foreclosure and bank-owned (REO) homes in Colorado Market Stats

2
Homes Listed
13
Avg. Days on Site
$237
Avg. $ / Sq.Ft.
$317,500
Med. List Price

The short answer

How do I buy a bank-owned home in Colorado?

Get pre-approved, find the home, and make your offer through the listing agent. The bank answers in days, not hours, and sells the home as-is. Inspect it before you offer and plan for repairs.

How buying a bank-owned home works

Step 1

1. Get pre-approved

Banks look at proof of funds or a pre-approval first. A cash offer or FHA/VA loan both work. Ask us for a lender.

Step 2

2. Tour and inspect

Homes sell as-is. Inspect the roof, furnace, plumbing and foundation before you offer.

Step 3

3. Offer through the listing agent

The bank counters through an asset manager. Expect several days for each answer.

Step 4

4. Close and fix

Closings run 30 to 45 days. Budget for repairs, since banks rarely make them.

Compare the decision

Bank-owned home or short sale?

Two paths to a discounted home, with different timing.

Bank-owned (REO)

The bank already owns it

Clean title, one seller.

  • Faster once the bank accepts
  • Sold as-is, often needs repairs
  • Bank sets the price floor
Short sale

The owner still owns it

The lender must approve a price below the loan.

  • Approval can take weeks
  • Often in better condition
  • We negotiate with the servicer

Check before you offer on a bank-owned home

Ask these on every REO.

  • Is the home occupied, and who removes the occupants
  • Does it have a working furnace, water heater and roof
  • Any liens or HOA dues owed at closing
  • Will the bank pay for the title policy
  • Does the bank require an addendum or proof of funds
  • Is it FHA or VA eligible for financing

Local anchors

Where bank-owned homes turn up

Denver and Aurora

Highest count of foreclosure starts on the Front Range.

Jefferson County

Arvada, Lakewood, Golden and Wheat Ridge.

Douglas County

Highlands Ranch, Parker, Castle Rock and Lone Tree.

Adams County

Thornton, Westminster, Commerce City and Brighton.

Bank-owned homes in Colorado: questions people ask

Are bank-owned homes cheaper?

Often, but not always. Banks price to the market and to what they owe. The discount shows up in condition and speed, so compare against nearby sales.

Can I use an FHA or VA loan?

Yes on many, if the home meets the loan's condition rules. Homes needing big repairs may not qualify. Ask your lender before you offer.

Why do banks take so long to answer?

An asset manager reviews every offer against a price file. Plan on several days per round and keep your pre-approval current.

What is the difference between REO and HUD homes?

REO homes belong to a bank or investor. HUD homes belong to the federal government after an FHA foreclosure. Both sell as-is.

Do you have homes before they list?

We watch bank-owned and foreclosure homes daily and tell buyers first. Call or text 303-955-4220.

Want a bank-owned home before it lists?

Call or text and we will send you new REO and foreclosure homes first. A live person answers.

Call 303-955-4220Text Kenna Real Estate Group

Get bank-owned homes sent to you

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