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REO is a class of property owned by a lender, typically a bank, after an unsuccessful sale at a foreclosure auction.A bank will typically set the opening bid for the REO properties /sale at a foreclosure auction for at least the outstanding loan amount. If there are no bidders that are interested, then the bank will legally repossess the property and list it as REO in their books.
What Kinds Of Flip Houses To Look For
You want the type of house that your buyers will want, the ones that, for
them, sell the fastest, and, of course, ones they can make a profit on. Read the rest of this entry



