Bank Repo Tips
White Knight is highly experienced in purchasing bank repos. We have established and built great relationships with the banks for over the past 8 years which helps us help you get the best deals possible. Keep in mind, bank repos can go very quickly… here today, gone tomorrow.
Bank repos are updated on our website weekly. It is important to remember that banks’ inventories can change quickly and without notice. Therefore, we cannot guarantee day to day that each home is still available at the time it is viewed. As well, the specs shown on homes are believed to be accurate, but are not guaranteed, since we get this information from a 3rd party.
There are great deals to be had by buying a bank repo, but there is also valuable information that can help you with your purchase, as follows:
- Bank repos must be a CASH purchase and usually must be paid for within 48 hours of the accepted offer.
- Bank owned homes are sold by a bidding process that White Knight will handle for you, from start to finish. Typically, offers submitted are blind, and therefore, it is recommended that your first offer be your best offer, as you may not have an opportunity to counter.
- All bank repos are sold in “as is” condition and without warranty.
- Buyer of the home is 100% responsible for any back rent or taxes owed at the time of sale. At White Knight we will assist you with this process so there are no surprises later.
Please feel free to ask your White Knight Expert for assistance before placing your offer. We are here to help you.