Definition of REO:

Real Estate Owned by the lender, this status indicates the property is now owned by the lender or bank as a result of a foreclosure.
www.realtytrac.com/education/noframes/documentation/Glossaries.html

Buying an REO has many benefits: the most widely known is that a buyer may often purchase a property for 50%-85% of the actual retail value.

Two things need to happen in order to purchase most REO properties. The first step in buying one of these properties is lettings us know what you are looking for. Some of the details we need are:

1. What is the LTV that you are looking for?
2. Do you have a specific price range?
3. What area are you interested in?
4. How many do you want to buy at once?
   1. Contact us if you are looking to buy in bulk.
5. What is your purpose? Rental? Flip? Personal residence?

The second step is preparing for the offer:

1. Proof of funds or pre-approval letter.
2. Be prepared to move quickly: many people never see the best deals.
3. Understand the risks.

If you are considering buying an REO and would like us to send you more information on properties available in your area please fill out the form below.

We look forward to hearing from you!