REO stands for "Real Estate Owned". Properties with this designation have gone through the foreclosure process without a successful sale at auction and have now become the property of banks, lenders, or mortgage companies. These new owners of the property will look to sell the property for the highest obtainable price that will result in a quick sale.

Purchasing this type of property can present many challenges along the way, but they also may come with the great reward of a below market price. Specific state laws, existing liens, and difficulties with obtaining mortgage financing can all add to the complication of closing on a foreclosed home.

Partnering with an agent and a company that has specific experience with closing these types of transactions can simplify the process and help in finding the best deals. We welcome your calls. Members of our staff are Certified Distressed Property Experts, CDPE, and Foreclosure REOS Specialists. Our knowledge and experience will prove invaluable.