Indianapolis Foreclosures & REOs

REO stands for real estate owned property. These are properties that have been foreclosed upon by the lending bank and are now owned by that financial institution. Indianapolis foreclosed homes and REOs are a smart choice for people searching the Indiana real estate market for their first home, a second home, or an investment property. Foreclosed homes are usually sold for far less than their actual market value and can range in price from well under $100,000 to the $400,000 price range.

There are a number of additional hoops that homebuyers must jump through in order to purchase a foreclosed home from a bank, but with an experienced realtor on your side, you can be sure that the whole process will move as smoothly and quickly as possible. The right real estate agent can help you determine which homes are the best deals and give you all of the legal guidance that you will need in order to successfully complete your Indiana real estate purchase.

Indianapolis Area Foreclosures

7 Properties
5
Beds
3
Baths
4,698
Sq.Ft.
1827
Year Built
11
Days on Site
21767609
MLS
FULLY RENOVATED INTERIOR! Fresh paint, new flooring, and a kitchen to DIE for! A massive bonus room on the upper level could serve as an office, gym, theater, poker room, all at the same time. Master...
$230,900
Subdivision: H Lauter Lofts
2
Beds
2
Baths
1,192
Sq.Ft.
2004
Year Built
131
Days on Site
21748483
MLS
Modern features in an excellent location with this downtown loft. Features include exposed brick, textured concrete floors, and wood beams which run throughout this 2 bedroom, 2 bathroom first floor...
$99,900
Subdivision: Gateway West
4
Beds
1
Baths
2,052
Sq.Ft.
1962
Year Built
21
Days on Site
21765191
MLS
Opportunity time with this tri-level home with tons of potential. Take a look because it won't last long. Has large fenced back yard. Close to schools, shopping and highways.
$94,900
Subdivision: Myers University Place
3
Beds
2
Baths
2,372
Sq.Ft.
1885
Year Built
175
Days on Site
21737844
MLS
Tons of potential in this 3-4 bedroom 2 bath home conveniently located close to downtown Irvington. The home features a large living room, formal dining room, main level bedroom, and sits on a dead...
$85,000
Subdivision: Matmore Add
2
Beds
2
Baths
2,240
Sq.Ft.
1924
Year Built
13
Days on Site
21766262
MLS
This 2 bed/2 bath house is ready for you to make it your home! The house has a spacious, fully-enclosed front porch. The front living space features beautifully stained trim, a charming arch, and...
$50,000
Subdivision: Armstrong Park
3
Beds
1
Baths
2,136
Sq.Ft.
1932
Year Built
23
Days on Site
21764157
MLS
3 bedroom, 1 bathroom property. Currently tenant occupied. Neighborhood is seeing signs of redevelopment and new builds. Property needs work. Roof replaced in 2020. Water heater new in December...
$800 / month
Subdivision: Gateway Townhouse
2
Beds
1F11/2
Baths
1,152
Sq.Ft.
1964
Year Built
77
Days on Site
21742604
MLS
This lovely townhome is ready for its new tenant. There are 2 large rooms, and 1.5 bathrooms for you and your family. Ther have been lots of updates and remodeling here to provide the new tenant...

Buying a Distressed Property

A number of factors can complicate the sale of a foreclosed property. Usually it takes longer to negotiate with the bank than it does with an individual, so it's a great idea to have a realtor on your side that is familiar with the process. The agents at RE/MAX Advanced Realty specialize in buying and selling Indianapolis bank owned properties. We have handled these types of sales hundreds of times, giving us special insight into the process and a unique ability to facilitate complicated foreclosure sales.

Our realtors are also excellent at helping homebuyers assess the actual value of the properties that they're interested in. Many foreclosed Indianapolis homes are in a distressed state with both structural issues and cosmetic issues. These issues can mean months of costly repairs in certain situations. In order to find out whether or not the home you're interested in is actually a wise purchase, our realtors can help you assess the true value of the home, suggest important repairs, and give you tips on cosmetic changes that will significantly improve the look and value of your new home.

Looking for More Information on Indianapolis Foreclosures for Sale?

Your dream home might be available right now among listed Indianapolis homes for sale. With the right realtor, you can find your perfect home for a price that may be far under its actual value.

Get started today by contacting Dennis Nottingham and the RE/MAX Advanced Realty team at 317.298.0961 or by reaching out to us online. You can complete a custom home search for properties for sale in your area before contacting us, or you can let us do the searching for you!

We look forward to helping you find the home of your dreams at an unbelievable price.

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