Bank of America is a US-based company and the second largest bank in the county as of this writing. Bank of America is a national lender and has a significant inventory of foreclosure properties for sale. Bank of America acquired the assets and loans of Countrywide Financial back in 2007. Countrywide is now known as Bank of America Home Loans.
Bank of America utilizes the services of local real estate agents in listing their local properties on the market. Bank of America foreclosure properties should be listed on the local MLS system with a local real estate agent. You can find foreclosure listings in your local MLS system from Bank of America.
As with all foreclosure purchases, the approval process for an offer made on a Bank of America foreclosed home can take longer than a traditional sale. Generally, there maybe more than one level of approval needed internally within Bank of America to approve an offer. There may also be an investor involved which will need to approve the offer made by a buyer of a foreclosed home.
Bank of America also notes that property condition on foreclosed properties are generally unknown. There may not be any records of maintenance, repairs or condition of the foreclosed property. Bank of America encourages and allows all buyers of foreclosed property to conduction home inspections on the property. This is always generally a good practice when buying a foreclosed home.
Bank of America also offers financing for foreclosure properties including renovation loans. You can pre-qualify for a mortgage on the Bank of America website. You can also sign up for email alerts when new properties become available in your area of your choice or price range. The BOA website is an easy way to find foreclosure listings.
You can find Bank of America national foreclosure listings on their website at this link.