On this page you’ll find a listing of areas around Arkansas which have bank repo cars for sale, foreclosed houses, repossessed real estate property, RVs, and in some cases watercraft. Financial institutions inside Little Rock, Fort Smith, along with other urban centers offer great deals for those who are interested. Because the banking institutions are generally not in the real estate and auto industries, they are often ready to offer any given reclaimed home at low rates to recoup losses on their loans. Be aware that the method for purchasing repo property can vary based on the policies of the bank.
Arkansas Repossession Buying Information:
Banks and credit unions throughout Arkansas are flush with repossessed assets that are available for the public to purchase. Buyers will find that many of the local banks will sell repo cars to any interested buyers. The process is relatively simple and involves just contacting the banks and making an offer to purchase. Arkansas bank owned real estate might be a bit more complicated if you don’t plan on using a real estate agent. Most banks will have an agent they use though. Be sure to ask a lot of questions prior to making a purchase. Bank owned trucks, motorcycles, and cars that are newer will generally still have a warranty from the factory. It also might be wise to have a good mechanic check for any deferred maintenance on the repo vehicles.
General Repossession Buying Information:
Currently there is no law in the United States restricting buyers from purchasing bank owned repo’s directly from banks. Some auction houses may restrict their sales to dealers only. RepoFinder only lists repo sales that are open to the public and are directly between bank and consumer.
Types of Repossessions in Arkansas:
Arkansas’ repo page is a free list of bank and credit union repossession sales featuring items such as cars, trucks, ATV’s, RV’s, boats, motorcycles, real estate, and more.