The Federal Deposit Insurance Corporation (FDIC) FAQ
1. How should I use this listing of properties ?
This listing of Owned Real Estate is intended to provide interested parties with preliminary information only. This list is not a solicitation of offers and does not constitute an offer to sell. The information is provided for the purpose of inviting further inquiry and has been obtained from sources we believe to be reliable.
Each property will have a contact name and phone number. The contact name will either be an individual from an FDIC office or an individual associated with the sales initiative (e.g. Auction Company, Real Estate Broker). If a property information package ("PIP") has been prepared on a particular property, it can be obtained from this individual.3. How often is the listing of properties updated ?
It is the FDIC's intent to update the listing of properties by close of business each Monday. Therefore, with the volatile nature of the real estate business, it is important to contact the individual associated with a particular property to find out if the property is still available since the last update.4. What is the condition of properties sold from FDIC ?
All properties are sold in an "AS IS" condition. The FDIC makes no guarantee, warranty, or representation, expressed or implied as to the location, quality, kind, character, size, description, or fitness for any use or purpose, now or hereafter.
5. How is the Listed Price established ?
Listed prices are established by a variety of factors which may include independent appraisals, brokers' opinion of value and current market conditions. All prices are subject to change without notice.6. Is seller financing available on the properties ?
Seller financing may be available to qualified buyers on residential properties with a minimum purchase price of $500,000 or those sold as affordable housing and on all commercial and land properties, regardless of price. Specific sale terms and conditions can be obtained from the individual assigned to market the property.7. Once an offer is submitted on a property, how is my offer evaluated ?
A number of criteria are considered when evaluating offers from prospective purchasers. These include, but are not limited to, net funds received after deducting brokerage commissions and sale expenses, and payment terms considered in light of the applicant's credit worthiness and ability to perform. The FDIC reserves the right to accept, reject or counter any submitted offer. While reviewing such offers, the FDIC further reserves the right to continue its sales efforts, including responding to any inquires or offers to purchase the property.