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LegalLife Multistate Guide and Handbook for Selling or Buying Real Estate Kentucky Form

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LegalLife Multistate Guide and Handbook for Selling or Buying Real Estate Kentucky Form

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hi it's Kevin Mitchell your Washington realtor with fathom Realty and this is real estate word of the day today's word is real estate owned or otherwise known as REO real estate owned is a designation given to properties which are owned by A lender due to an unsuccessful foreclosure sale at auction REO properties can sometimes present an opportunity for a buyer to be purchased for below market value as most banks would prefer to reinvest the proceeds rather than waste time marketing the property for an extended period additionally the bank will often Market the property as is meaning they are unwilling to make any repairs to the property which can make financing tricky thank you for watching my name is Kevin Mitchell you're a Washington realtor with fathom Realty and this is real estate word of the day

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