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Buying REO Homes? Here’s What to Do — And What Not to Do — According to Experts

HomeLight

Go to your county’s office and ask for the pre-foreclosure list ,” he says. What will it cost to renovate it so you command either market rent or a sale at a price that represents a margin you’re comfortable with? Reach out to people on the list, and give them an offer!”. Will buying an REO home be a good investment?

Banks 104
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131 Real Estate Terms & Definitions Your Clients Expect You to Know in 2023

The Close

It generally results in a higher interest rate or additional points, but it’s a way for homeowners to leverage their equity in a property. Loans with less than 20% down often require buyers to pay private mortgage insurance until they reach a certain equity ratio. Due diligence period. Home equity conversion mortgage.