Get help finding the Right Real Property Lawyer for your case
A Real Estate Owned (REO) property is a real estate that is owned by a lender, bank or mortgage company after an unsuccessful foreclosure attempt. After a foreclosure auction ends unfavorable, the bank tries to sell the property through other auctions or a Realtor by removing some expenses on the home. Typically, Real Estate Owned properties need lots of repair and maintenance and are sought after by real estate investors who pay a low price to compensate for the property's poor condition.
When buying Real Estate Owned property, it is important to keep in mind that counter offers are often verbalized and negotiations can last a long time. Properties are often vandalized and are sold "as is", which means the banks will not fix the problems on the property. It is also important to have help by an agent or a real estate attorney because the property may have several other offers and you may need to be pre-approved for financing before placing an offer.
A qualified real estate lawyer who has experience in real estate and foreclosure can help familiarize you with various lenders and mortgage holders. A real estate lawyer can provide buyers and sellers with great Real Estate Owned results by handling title resolution.
If you need a real estate lawyer to help you with a Real Estate Owned property, contact Attorney Search Network today. We can connect you with a real estate lawyer who can assist you with all Real Estate Owned property matters.
If you have any questions about the information provided above, please contact us. Call us toll free at (800) 215-1190 or fill out our online form for your Real Property lawyer referral.