A buyer locates bank-owned motels for sale by searching on a foreclosure property listing site such as LoopNet.com or Auction.com as well as using specialized bank asset search sites such as BankAssetPoint.com. Buyers can also look at the foreclose sections of a bank's website to find current listings for motels.Continue Reading
One of the easiest ways for a buyer to find bank-owned motels for sale is to work with a bank itself. A buyer can begin her search by finding the foreclosures section of a bank's website, such as the one offered by Bank of America. This section allows users to browse properties based on a specific state, with each listing containing pictures of the property and a description of its included assets. Buyers should note that many banks do not distinguish between commercial foreclosures and residential foreclosures, so it can take time to locate specific listings for motels with some bank sites.
Another option for buyers is to search on a site such as LoopNet.com, which contains many active listings for bank foreclosures. The site allows users to filter results based on factors such as price range and property type, making it easy to identify the most relevant motel listings.Learn more about Investing