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

12 Properties
$558,000
Neighborhood: Sycamore Springs
4
Beds
3F11/2
Baths
5,845
Sq.Ft.
2002
Year Built
31
Days on Site
21880650
MLS
Beautiful Georgian 2 story home with beautiful hardwoods with fireplace. Main floor master bedroom with den and dining room. Lovely patio and garden spot with a welcoming front porch to spend the...
$365,500
Neighborhood: Forrest Commons
4
Beds
3
Baths
3,592
Sq.Ft.
1990
Year Built
58
Days on Site
21875132
MLS
Amazing value on this spacious two-story home nestled in sought after Forrest Commons. Neighborhood is impeccably maintained w/custom homes on wooded lots & has walking trails. 3 levels of finished...
$316,000
Neighborhood: Glastonbury
3
Beds
2
Baths
2,070
Sq.Ft.
1984
Year Built
56
Days on Site
21874847
MLS
A 3 bedroom gem in the beautiful neighborhood of Glastonbury Court. Walk inside to the stunning 2 story great room featuring a cozy fireplace and glass windows with access leading to the backyard....
$280,000
Neighborhood: Mannandale
4
Beds
2
Baths
1,920
Sq.Ft.
1969
Year Built
29
Days on Site
21880832
MLS
This is one of those "special homes" that don't come on the market often. Mid-Century Ranch home, all-brick, w/ a walk-out finished basement. Located on a corner lot with large backyard, perched...
$245,000
Neighborhood: Hubbard Park Heights
3
Beds
1F21/2
Baths
2,196
Sq.Ft.
1925
Year Built
49
Days on Site
21876436
MLS
Chase grant available for this address anywhere from $2500-$5000. Priced to sell! Newly and completely renovated single family home. This great family home or investment property features smart...
$241,900
Neighborhood: Elders 6Th Edgewood
3
Beds
1F11/2
Baths
1,824
Sq.Ft.
1953
Year Built
3
Days on Site
21885416
MLS
3 BEDROOM, 1.5 BATH HOME WITH TONS OF PARKING AREA AS WELL AS AN OVERSIZED 2 CAR GARAGE. TWO LIVING AREAS, LARGE OPEN KITCHEN. LARGE UPPER BEDROOM WITH PRIVATE BATHROOM.
$130,000
Neighborhood: Montrose
3
Beds
2
Baths
1,248
Sq.Ft.
1920
Year Built
56
Days on Site
21867502
MLS
3 Bedroom, 2 Full bath with fully fenced in yard and a solid 2 Car detached garage. Good roof and solid mechanicals make this fix-up opportunity a great find just below 46th Street, near conveniences...
$125,000
Neighborhood: Waldons Central Ave
3
Beds
1F11/2
Baths
2,048
Sq.Ft.
1880
Year Built
57
Days on Site
21870380
MLS
Investors, step right up! Take over this project in bustling Mapleton Fall Creek area. This two story home is a shell ready for the finish line. Much of the heavy lifting is complete - new...
$115,000
Neighborhood: Mcclintocks
2
Beds
1
Baths
975
Sq.Ft.
1910
Year Built
22
Days on Site
21864074
MLS
Charming 2BR/1BA home that is perfect to add to your rental portfolio! Located in an appreciating area along Mapleton-Fall Creek redevelopment project area. Don't miss your chance to grab this...
$72,900
Neighborhood: Grasmere
2
Beds
1
Baths
1,392
Sq.Ft.
1945
Year Built
21
Days on Site
21882374
MLS
Great opportunity on the southside of Indy. Close to Garfield Park and Colombia Park with restaurants and shopping nearby. 2 bed 1 bath ranch home with detached garage. Home is in need of repairs to...
$11,900
Neighborhood: Braden Et Al North Indpls Add
0.13
Acres
37
Days on Site
21879307
MLS
LOTS OF POSSIBILTIES! Buildable lot with all utilties available! So much existing potential in this area. This lot is cheaper than a car, and in today's market where can you find this kind of...
$1,700 / month
Neighborhood: Hammonds
3
Beds
1
Baths
2,543
Sq.Ft.
1922
Year Built
2
Days on Site
21885784
MLS
Awesome 3 bedroom 1 bath home. Original wood floors throughout and original woodwork in dining room and living room. Nice backyard with trees. On street parking but also in alley way behind home in...

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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