Real Estate Insight
Buying REO vs. Foreclosure - What's the Difference?
REO is an abbreviation for a REAL ESTATE OWNED property which indicates that the property has been foreclosed on and has been taken back by the mortgage lender, trustee, or bank.
I’m often asked, “Which is better to buy, an REO or a house being foreclosed on?” The answer isn’t always that simple, and really depends on personal preference, the individual properties, the conditions and terms being offered, etc. There are distinct advantages to purchasing both, and a laundry list of items you should consider if you’re in the market.
There’s much to learn about purchasing these properties, and certainly any good investment is worth taking the time to fully understand your options. As a real estate professional, I can help you make the right decisions for your family, and help you protect your best interests. Most of these properties are sold, “as-is,” so it’s important to have an advocate on your side when negotiating these offers.
Call me to learn what properties are available in this area and how you can make the best financial investment for your family.
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