Are you looking to buy a bank-owned property but have questions? MartLaw can help!
A Bank Owned /Real Estate Owned (REO) is a property that reverts to the mortgage company after an unsuccessful foreclosure auction. The property becomes part of the bank’s inventory and will be placed on the market. A REO is not like a typical purchase and sales transaction between traditional seller and buyer. MartLaw has in-depth experience with REO purchase and sales transactions. From our experience, we are able to help a buyer avoid and overcome common obstacles associated with such transactions.