On this page you can find the places within Washington which may have repo cars for sale, foreclosed homes, reclaimed property, recreational vehicles, in addition to watercraft. Credit unions and banks inside Olympia, Seattle, and various other towns have opportunities for investors that are interested. Given that the loan companies are usually not in the real estate investment and automotive sales industrial sectors, they may be prepared to offer the repo home at discounted prices to recuperate money lost on loans. Realize that the process for selecting the forfeited items will be different depending on the policies of a given lender.
Washington Repossession Buying Information:
The State of Washington has an extensive supply of bank repossessions for sale to the general public. Washington bank repo’s are some of the finest in the United States. Many of the credit unions are also well stocked with repo cars and homes. Without a doubt there are a lot of people all competing for the same deals when they’re sold. There’s a few tips that may help. First, be sure to spend time researching what you want to buy. Second, Don’t bid too low. Most of the banks will take open bids and the sale goes to the highest offer. If you bid too low you’ll miss out. Third, make sure you ask if the bank offers any financial incentives for buyers of repossessed property. The banks will sometimes offer 0% rates and better terms to help facilitate the process.
General Repossession Buying Information:
Buying a repossessed vehicle or home isn’t much different than using a private party. A lot of dealers and real estate agents hunt for these deals so they can resell them for a profit. When you buy from a bank they have every reason to sell but they aren’t motivated by a commission. They just want the asset off of their books. When you make an offer you can ask if it’s a sealed or open bidding process. On an open bid you can see the current high offer. On a sealed bid it’s all anonymous. As always, when purchasing any vehicle make sure to thoroughly evaluate the engine, drive train, body, electronics, etcetera so that you don’t make a costly mistake. Often times repo’s will still have the original warranty intact. Be sure to ask all the questions you can think of. The credit union is there to make the process easy.
Types of Repossessions in Washington:
Washington’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.