Metro Atlanta, Gerogia Real Estate Market, North Georgia, REO Sales

What's an REO?

REO stands for "Real EstateOwned". These are properties that have gone throughForeclosure without a sucessful sale and now reverts back to the bank, lender or mortgage company. A REO, by contrast, is a much "Cleaner" and attractive transaction. The Owner of the property (bank etc) will negotiate with the IRS for the removal of TAX liens, evict occupants if needed, pay off any homeowner insurance fees and generally prepare for the inssuance of title insurance policys to a new buyer at closing. Junior Liens are written off. Do be aware that REO properties are exempted from normal disclosure requirements. The REO seller has never lived in the property nor in many cases has never seen the property.

If you have any questions feel free to contact me.