Understanding REOs: Real Estate Owned Properties Explained
By Christopher Shearer MBA DRE #02062657, Experience You Can Trust. Results You Can Count On
(Christopher Shearer Real Estate)
Carmel, CA Monterey County CA Understanding REOs: Real Estate Owned Properties Explained it comes to real estate investing or purchasing properties, you may come across the term REO, which stands for Real Estate Owned This category of property represents a unique opportunity for homebuyers and investors alike. In this blog post, we'll dive into what REOs are, how they come into existence, and why they can be an attractive option for those looking to purchase property.What is an REO Property?An REO property is a piece of real estate that has been foreclosed upon and is now owned by the lender, typically a bank or mortgage company. These properties end up in the hands of the lender when the previous owner defaults on their mortgage, and the lender is unable to sell the property at a forec...
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