REO (Real Estate Owned) property is property owned by the bank or other lender. The property becomes REO when the home does not sell in a foreclosure auction. REO property is usually sold at below market value to investors.
« Back to Glossary IndexREO (Real Estate Owned) property is property owned by the bank or other lender. The property becomes REO when the home does not sell in a foreclosure auction. REO property is usually sold at below market value to investors.
« Back to Glossary Index