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what is an reo property

1Answers

VonKaleb

11/28/2025, 06:48:14 AM

Real estate owned (REO) refers to property that has been taken back by a lender after the borrower defaults and the home doesn’t sell at the foreclosure auction. When this happens, the bank becomes the legal owner and works to sell the property, typically by hiring a real estate agent or listing it on specialized REO or bank-owned property websites.

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