Foreclosure Quick Tip: Rely on the REO pros

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Foreclosure Tip: Search for local real estate agents – REO pros – who specialize in the foreclosure market.

The reason: Purchasing an REO is typically not as clear-cut as purchasing a home in the traditional sense. If a you are looking for a real estate “deal” then you should use a real estate broker who knows the ins-and-outs of foreclosure properties. In fact, REO agents often offer a team of skilled inspectors and repairmen who can help you spot and ward off trouble before you sign on the dotted line.

“REO” defined: When a lender takes ownership of a property as a result of the foreclosure process, the lender then calls the property an REO, which stands for “Real Estate Owned.”

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Comments

  1. Marsha says:

    How can I find out how and where and when to purchase tax liens in Santa Clara Co. Calif?

    When I call the assessors office they said they had just had an Auction in Jun and not to have another for 2 years?

    How can I find out about the Auctions, what counties, when, what the process is?
    Signed up for your webinar on the 7th, maybe it will answer 1 or2 of ?’s, …

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  1. [...] Foreclosure Quick Tip: Rely on the REO prosIf a you are looking for a real estate deal then you should use a real estate broker who knows the ins-and-outs of foreclosure properties. In fact, REO agents often offer a team of skilled inspectors and repairmen who can help you … [...]

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