Frequently Asked Questions (FAQ)
1. What is an REO property?
REO stands for "Real Estate Owned" property that has been acquired by a bank or mortgage company.
2. What is the condition of these properties?
IBERIABANK acquired these properties through foreclosure, therefore our knowledge of the properties is limited. All properties are sold "as is". IBERIABANK assumes no responsibility and makes no warranties, representations or guarantees as to the availability of properties or accuracy of the property information offered on this website.
3. Can the property mortgage be assumed?
No. After a property is foreclosed there is no mortgage. The bank owns the asset.
4. Are the prices for the listings negotiable?
IBERIABANK representatives have completed extensive pricing due diligence for each of the properties. This process includes visiting the site, property appraisals and meeting with market professionals to ensure that the pricing for the properties reflects an accurate market value. It is highly recommended that all potential buyers perform similar due diligence prior to making an offer. After completing thorough due diligence should you feel the property value is different from IBERIABANK'S asking price, we encourage you to make an offer using the "Offer to Purchase" tab on the right toolbar of the webpage.
5. How can I buy a bank-owned property?
There is a contact person noted for each property on this website. All communication regarding properties on this website should be directed to the individual noted under "Contact Information" on the detail page of the property you are interested in.
6. How do I submit an offer or contract on a specific property?
IBERIABANK properties are being sold "as is" "where is". You are encouraged to use the Contract for Residential Property or Letter of Intent for Commercial Property located on the right toolbar under "Offer to Purchase". Please be sure to fill out the form completely and submit it to the IBERIABANK REO Department either by e-mail email@example.com or fax to 941-487-3067 Attention: IBERIABANK REO Department.
7. I am a Real Estate Broker/Agent how do I register my buyer?
By utilizing the Broker Agreement located on the right toolbar. As a Broker or Agent you and your client will fill out the form in its entirety and submit to the IBERIABANK REO Department either by e-mail firstname.lastname@example.org or fax to 941-487-3067 Attention: IBERIABANK REO Department.