Washington Mutual REO

What is a bank-owned property?
A bank-owned property, also called an "REO" (real estate owned) property, refers to a property that was acquired by a bank or lender as a result of a foreclosure or deed in lieu. Once the closure process is complete and title transfers, the properties are available for sale through a local real estate agent.

Who do I contact if I have questions about a property?
All REO properties are listed with a real estate agent. The local real estate agent is your best resource to information about the property. The agent's contact information is listed on the property detail on this Web site.

How can I purchase a bank-owned property from WaMu?
Offers for WaMu bank-owned properties should be made through the listing real estate agent. The contact information for the agent is on the property listing on this Web site.

Can I make an offer on a property before the foreclosure is completed?
Perhaps. The bank is not the owner of the property until the completion of the foreclosure and transfer of title. Pre-foreclosure offers may be presented to the owner of the property, not WaMu. If the offer is for less than the amount owned, this is referred to as a "short-sale" and will require WaMu's approval. Your real estate agent should be able to assist you in presenting an offer on the property to the owner and working through the process with you.

Can I inspect the property?
Yes. You can get inspections on the property once your offer is accepted. The inspections will be at your expense and should be scheduled through the listing agent. The bank-owned properties are all offered and sold "as-is", and "where is" without representation or warranty so it is important that you perform any inspections that you deem necessary.