HomeLight
SEPTEMBER 30, 2020
“The title’s been checked out, you can go inside the house and look at it and do all your due diligence. With the courthouse steps [auction], you literally do no due diligence.”. An online option like a real estate owned (REO) property, you’re not spending any money into it,” says Durham.
HomeLight
AUGUST 16, 2021
In the market for a “ real estate owned” property ? REOs for short, these kinds of sales expose buyers to a lot of potential risk. But they also provide a lot of opportunity for big return on investment, too — much bigger, and faster, than you might expect with many traditional sales.
This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.
HomeLight
SEPTEMBER 1, 2020
If the homeowner fails to catch up on their payments by the auction date, the home is auctioned for sale. The home is now bank-owned (sometimes also called REO, or “real estate owned”). First, it’s worth noting that the term “bank-owned foreclosure” is a bit of a misnomer.
HomeLight
SEPTEMBER 30, 2021
REO owned: If the home doesn’t sell at auction, it becomes real-estate owned, meaning the bank or lender owns it. Finally, a third way to buy a foreclosure is through a real-estate owned, or REO, listing. REO listings. You’re buying as-is.
HomeLight
MARCH 10, 2023
Typically, they buy distressed properties — either short sales, foreclosures, or homes that need significant work — fix them up, and sell them for a profit. When buying an REO ( real estate owned/lender-owned property ), the banks like to work with cash. Find a Buyer's Agent What is house flipping?
The Close
DECEMBER 29, 2022
Due diligence period. What if your clients are asking about their due diligence period? This can lead to a short sale, foreclosure auction, and/or the lender taking possession of the property. How to Get a Real Estate License in 5 Simple Steps. Real-estate owned (REO).
Expert insights. Personalized for you.
98 
Let's personalize your content