small ONE TIME only fee !
REO stands for "Real Estate Owned". Therefore an REO property is a property that is in posession of either a bank or lender as of a result of foreclosure due to lack of payment, or forfeiture by the owner. The level of foreclosures\repossessions at the present time is unprecedented in the history of the United States! The combination of buyers over extending themselves along with lenders approving mortgages that should never have been pushed through has created a "perfect storm" that has devastated the housing market.
Now the banks have HUGE stockpiles of property in place of the precious dollars that they haphazardly loaned out, and this is causing a wave of panic that is being felt on wall street and main street alike! The banks aren't in the business of selling homes, and that is why they need YOU , the Real Estate Agent, now more than ever! Banks across the nation are desperately searching for agents to list and sell these properties at below market value in order to recuperate some minimal return on their initial loans. This literally opens the floodgates for Real Estate Agents everywhere drastically increase their listing portfolios and make huge amounts of money!