Real estate owned (REO) properties are properties that have been foreclosed on and are now owned by the lender. REOs can be a great investment opportunity, as they are often sold at a discount to their market value. However, there are also some risks associated with buying REOs, so it is important to do your research before you make an offer.
One of the biggest benefits of buying an REO is that you can often get a good deal. Lenders are typically motivated to sell REOs quickly, so they are often willing to negotiate on the price. In addition, REOs are often sold “as is,” which means that you will not have to worry about making any repairs before you can move in.
