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

10 Properties
$649,000
Subdivision: Eliz Talbotts
4
Beds
3F11/2
Baths
3,832
Sq.Ft.
2017
Year Built
65
Days on Site
21787424
MLS
Pack your bags, this is it! Beautiful open concept in Historic & coveted Herron-Morton Place! Home was built in 2017, boasting high ceilings throughout and elegant hardwoods in main level & rec room....
$489,500
Subdivision: Brendonwood
4
Beds
3F11/2
Baths
4,504
Sq.Ft.
1956
Year Built
120
Days on Site
21775952
MLS
Very private, nicely wooded front yard. The first-floor master bedroom suite was turned into an in-law's quarters with everything you would need to live comfortably. It even has an exterior entrance....
$189,900
Subdivision: H Lauter Lofts
2
Beds
2
Baths
1,192
Sq.Ft.
2004
Year Built
281
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...
$169,900
Subdivision: Biltmore Gardens
3
Beds
2
Baths
1,064
Sq.Ft.
1928
Year Built
1
Day on Site
21800106
MLS
So many updates on this 3 Bed 2 Bath ranch home!! This is a super clean move in ready home!! The kitchen has new shaker style cabinetry, new counter tops, new subway tile back splash and new...
$149,900
Subdivision: Fergusons Hill Place
3
Beds
1F11/2
Baths
2,115
Sq.Ft.
1900
Year Built
12
Days on Site
21799054
MLS
Up and comming area new construction in the area as well, just north of Fountain Square. Plenty of room with a loft that could easily be used as 4th bedroom ( it has its own closet and window)....
3
Beds
2F11/2
Baths
2,602
Sq.Ft.
2004
Year Built
12
Days on Site
21800114
MLS
Spacious 2 Story with over 2600 sf, 3 bedrooms, 2 1/2 baths, living room with Fireplace and 1 car attached garage. Work needed being sold as-is.
$105,300
Subdivision: Longacre
3
Beds
1
Baths
2,404
Sq.Ft.
1922
Year Built
65
Days on Site
21788116
MLS
Large lot and huge garage with this 3 bedroom 1 bath home. Good size living and dining room with hardwood floors and fireplace. Home needs repairs and updating. Wood deck off back of house...
$90,000
Subdivision: Burns Sub Hasselman Place Add
5
Beds
2F21/2
Baths
2,194
Sq.Ft.
1920
Year Built
3
Days on Site
21802273
MLS
Opportunity knocks on this unique Watson Park Craftsman. Originally built as a multi-family property with apartment upstairs and another living unit downstairs. Full renovation would create an...
$89,900
Subdivision: H Geisel Srs E 10Th St
2
Beds
1
Baths
2,394
Sq.Ft.
1925
Year Built
8
Days on Site
21801331
MLS
Beautiful original hardwood and historical charm are just waiting to be brought back to their original glory!! Join the St. Clair Place and Educator's Village neighborhood redevelopment movements...
$89,900
Subdivision: Claypools Northeastern Park
3
Beds
1
Baths
1,728
Sq.Ft.
1940
Year Built
1
Day on Site
21802922
MLS
Cute, updated rental with a tenant in place paying $900 per month with a lease thru 11//30/21. 3 bedroom 1 bath home.

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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