A bank owned or REO property is one that has moved past the foreclosure process and is listed for sale by the bank, via a qualified intermediary (usually a licensed broker). Torcana has purchased properties from a very wide variety of banks and their chosen brokers. These types of properties are usually in severe disrepair, with damaged roofs, plumbing, kitchens etc. We purchase these houses “as is” and oversee the general contractors who bring them back to rent ready condition.

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