According to Wikipedia, “Bank of America Corporation is an American multinational banking and financial services corporation headquartered in Charlotte, North Carolina. It is the second largest bank holding company in the United States by assets”. Being one of the largest banks for lending, they also engage in repossessing a high volume of cars (and other vehicles) along with a variety of real estate nationwide.
Delinquent loans have spiked in the last few years and with an influx of bank repo cars, Bank of America has opened a portal on their website to liquidate these repossessed assets to public buyers.
Buyers who are interested in purchasing these repossessed vehicles can simply visit the-Bank of America repo list.
The process to acquire these repo’s is actually quite simple. Buyers can browse the current inventory and search for repo cars, boats, real estate, and more in their own zip code nationwide.
Once you have found the property you are interested in purchasing there will be a link to a B.of A. repossession agent locally that you can contact for additional questions and the procedure for submitting an offer. Currently, the majority of the Bank’s available inventory is real estate offerings, also known as REO (Real Estate Owned) properties. It is always advisable to research anything you are planning on buying so that there are no surprises down the road. A local professional real estate agent can help guide you in these matters.