What is an REO?

August 15, 2009 by Debbie · Leave a Comment 

Did you know that the bank or servicer will own the property in this scenario?
Your real estate agent or broker will negotiate this purchase for the buyer between a bank employee instead of an owner/seller).
Paperwork/Rules for Offer Submission: Standard purchase and sale agreements are used as well as the banks’ own addendums and disclosures. Offers [...]