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what is a real estate owned property

1Answers
DiLawson
11/28/2025, 06:06:18 AM

A Real Estate Owned (REO) property is one that a lender takes ownership of after a foreclosure sale fails to result in a buyer. Banks typically sell these properties at a discounted price to recover losses, and they are offered in “as-is” condition, meaning the lender does not make repairs or improvements before the sale.

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