reo: North Texas MLS (NTREIS) RELO as in relocation vs RELO as in foreclosure
- 05/11/10 03:00 AM
Dallas, TX. REOs, Foreclosures, Corporate Owned, RELO - what is in the name? Have you noticed the trend of naming foreclosed properties - RELO or Corporate owned? The naming game is reflected in the MLS data field called seller type. This is a big trend here, in North Texas. Of course, the instructions of how to present the listing are coming from the lenders in the case of REOs. They are thinking that calling a seller RELO may hide some negativity surrounding word FORECLOSURE/or REO. Whether this makes any difference for the market place at all is yet to be seen. However, what interesting is … (1 comments)
reo: REO property - pool equipment stolen twice; lender installs it for the third time a day before closing
- 03/17/10 03:53 AM
This story has a happy ending! While in contract, the thieves visit this REO property often to check on what could be taken. They find something to take (brand new pool pump) not only once but twice! The lender does a good deal and reinstalled the pool equipment after it's been initially stolen only to see it stolen again! The third time is a charm! Installed only 12 hours before closing the pool equipment lives to see its new owners! Hurrah!!!
P.S. Make sure you do a walk thru about an hour before closing on REO property with anything valuable that can be … (2 comments)
Dallas, TX. REOs, Foreclosures, Corporate Owned, RELO - what is in the name?
;)
;)
;)
