On this page you will see an index of organizations within Idaho which may have bank repo cars for sale, foreclosed homes, repossessed land, mobile homes, and perhaps watercraft. Banks and credit unions around Boise, Nampa, along with other cities offer excellent deals for investors who are curious. As the banking institutions are generally not in the real estate investment and automotive industries, they may be willing to sell off any given repo property or home at discounted prices to recoup money lost on their loans. Note that the procedure for selecting repo property will vary based on the guidelines of the lending institution.
Idaho Repossession Buying Information:
The State of Idaho has several banks and credit unions that sell repossessions directly to the public. Buying an Idaho bank repo is a pretty basic endeavor. Shopping via RepoFinder will link potential buyers to an array of Idaho banks that sell repossessed cars, trucks, motorcycles, RV’s, ATV’s, and real estate. Each repossessions will have a set asking price. Buyers can make an offer or submit a bid according to what they’re willing to pay for the Idaho bank owned property. The bank can then either approve or deny you offer. If you are fortunate to be the high bidder then the bank will walk you through the rest of the purchase process. Several of the Idaho banks selling real estate will also be able to help you with the purchase contracts if you don’t have an agent.
General Repossession Buying Information:
As a rule of thumb, it’s always a good idea to inspect any bank repo that you plan to buy. Banks will have no problem letting you inspect the reclaimed asset prior to making an offer. Buyers may want to have a trained mechanic or other person with the expertise required to inspect a repossessed vehicle for any defects of maintenance that may have been deferred. When buying repo’s also realize that everything is sold as-is. Ultimately you’ll be responsible for any mechanical failure unless the repossession still has the original warranty in place. If needed the banks can also help with financing a repo and may even have special interest rates if you go down that course.
Types of Repossessions in Idaho:
Idaho’s 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.