Definitions for Deal-Seeking Buyers: Short Sales, Foreclosures, and REO Homes
HomeLight
AUGUST 31, 2020
According to Troy Walseth , a Florida real estate agent with over 27 years experience, banks don’t typically allow a homeowner to go straight to a short sale unless the amount still owed is more than the current market value of the home. At this point it is now called a bank-owned or real estate-owned (REO) property.
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