▣ REO’s, They’re not Just Speedwagons, They’re Foreclosed Properties
It may be more advantageous to invest in Real Estate Owned (REO) properties than to purchase real estate via short sale or foreclosure. The bank is usually even more eager to sell the property as the investor is anxious to buy it. This is why many new investors have seized this opportunity.
The REO purchasing process can be quicker can simpler than a regular foreclosure purchase. When buying an REO property, there is no lengthy waiting period. REO's are as easy to find as other properties, but finding foreclosures can often be a comparatively daunting challenge.
Purchasing REO is much the as buying from a retail seller. Banks are willing to sell hastily in order to expedite the process of getting the property of their books. Available for far less than their market value, REO’s offer myriad investment prospects.