Navigating the Market

Navigating today's real estate market buyers will generally encounter three different types of listings, The REO, The Short Sale and the Standard Sale.

The REO or Real estate owned property is a class of propert owned by a lender—typically a bank, government agency, or government loan insurer—after an unsuccessful sale at a foreclosure auction. A foreclosing beneficiary will typically set the opening bid at a foreclosure auction for at least the outstanding loan amount. If there are no bidders that are interested, then the beneficiary will legally repossess the property.

The Short Sale

The Standard Sale