Foreclosure Quick Tip: Rely on the REO pros
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.”
Original post by Foreclosure.com
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