loomis: Tips: How to Buy a Bank Owned REO Property - 05/05/08 01:53 PM
On weekends, I tend to hold open houses for REO properties, and I am surprised how many buyers are not working with an agent. They hope to find their home by searching through the newest REO open houses.
After they find the right house, then they choose their Realtor. This seems backward. (2 comments)
loomis: What is the difference between an REO Property and Foreclosure? - 05/05/08 10:48 AM
Q1. What is an REO?
A An "REO" is an acronym for "real estate owned" by banks. A bank owns the property instead of individuals. Once a property is foreclosed upon, the bank typically acquires title to its REO properties.
Q 2. What is the difference between an REO sale and foreclosure sale? (3 comments)