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Wells Fargo REO's
REO Simplified
What does REO mean anyway? How is this different from the typical buying process? When considering a REO property - as with all properties - it is important to be well informed so you're well aware of the process from the first handshake through the closing.
Q. What does REO mean?A. REO is an acronym for Real Estate Owned. REO is a financial industry term referring to properties that an institution has foreclosed upon and now owns.
Q. If I submit my offer directly to you rather than through the listing agent, will Premiere Asset Services accept a lower price?A. We only accept offers that have been submitted through the listing agent. We price our properties in accordance with the local market and expect to sell at market value. As with any property listing, our asking price takes into account its condition as compared with the local market.
Q. After submitting my offer, how long should it take to receive a response?A. We will provide either an offer acceptance or counter offer to our listing agent within 48 hours of receiving the offer from our listing agent. The listing agent will inform your buyer's agent of our response if ... more

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