To find government REOs (real estate owned, which is shorthand for foreclosure properties), we like to begin with the United States General Services Administration website, www.govsales.gov. It provides links to all federal government-owned property for sale, including foreclosures. Agencies include:
• Housing and Urban Development (HUD);
• Veterans Administration (VA);
• U.S. Department of Agriculture (USDA);
• U.S. Marshal’s Service (criminal seizures);
• Internal Revenue Service (IRS);
• Small Business Administration (SBA) (which includes rental houses purchased as part of a small business and homes that were given as additional collateral for small business loans); and,
• miscellaneous other agencies that come into possession of real estate.
While shopping at this site for bargains, do not limit yourself to foreclosures. The federal government sells a wide variety of real estate for a multitude of reasons. Many properties can be purchased at bargain prices.