Bank Owned Real Estate in Boston

Boston bank charters require a certain amount of solvency be maintained in an effort not to weight a Boston banks liability too heavily in Boston. The loss-mitigation division of a Boston bank is motivated to move non-performing assets out of the Boston bank. During foreclosure if there are no buyers of the Boston real estate property the Boston property reverts to the Boston bank and is offered for sale through their REO division. Many Boston banks will negotiate down the payoff (a short sale) in an effort to move the asset allowing profitability for the investor due to purchasing at a discount to market value. This process again allows for clean transfer with limited risk as inspection of the Boston real estate property can be conducted prior to purchase.

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