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Bank-owned properties may also be referred to as real estate owned, or REO. You can find bank-owned properties through sources like banks' online listings or RealtyTrac. Whether you’re looking ...
Real estate owned. Real estate owned, or REO, is a term used in the United States to describe a class of property owned by a lender —typically a bank, government agency, or government loan insurer—after an unsuccessful sale at a foreclosure auction. [1] A foreclosing beneficiary will typically set the opening bid at such an auction for at ...
A broker's price opinion (BPO) is a report that is performed by a licensed real estate agent, broker. or appraiser. A BPO is an informal appraisal. It is similar to doing a CMA ( Comparative Market Analysis) but most times the real estate professional gets paid to do a BPO. A BPO can be either an exterior drive-by or a full interior report.
What is an REO? REO stands for Real Estate Owned. It is actually short for Other Real Estate Owned (OREO), but that may have been too confusing with the cookie. ... The banks repossessed millions ...
Private electronic market. Software. v. t. e. Foreclosure is a legal process in which a lender attempts to recover the balance of a loan from a borrower who has stopped making payments to the lender by forcing the sale of the asset used as the collateral for the loan. [1] [2]
An REO or Real Estate Owned property is a home that s been through the foreclosure process and is now held by the lending institution. When borrowers default on their monthly mortgage payments ...
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