What Does REO Mean? Flipbook PDF

An REO (Real Estate Owned) property is a home the bank owns after a foreclosure or deed in lieu.

---

115 Views
3 Downloads
FLIP PDF 1.88MB

DOWNLOAD FLIP

REPORT DMCA

WHAT DOES REO MEAN? AN REO (REAL ESTATE OWNED) PROPERTY IS A HOME THE BANK OWNS AFTER A FORECLOSURE OR DEED IN LIEU.

Foreclosure is the legal process where real estate secured by a mortgage or deed of trust is sold to satisfy a debt.

At the end of the process, the property is sold so that the lender can recoup the amount it loaned to the defaulting borrower.

Depending on state law and the circumstances, the foreclosure will be judicial or nonjudicial.

When you’re looking at foreclosures and other investor-owned properties, it’s helpful to work with Foreclosure inspection companies as these properties have their own peculiarities.

It’s important for any interested buyer to do their research and consult with experts before purchasing a property.