Home Buying in 85029>Question Details

Heatdog, Home Buyer in 85029

what does REO Apprvl Indicated mean on a MLS listing?

Asked by Heatdog, 85029 Tue Jul 5, 2011

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Actually, that's not at all what the notation means.

In the Arizona Regional MLS, "REO Apprvl Indicated" means that the lender selling the home has verbally accepted an offer but the paperwork hasn't yet been completed.
0 votes Thank Flag Link Sat Jul 9, 2011
This means the home is a lender owned home and the bank that currently owns the house must approval all terms of the purchase contract.
0 votes Thank Flag Link Sun Jul 15, 2012
REO approval means that the bank is now the owner of the property and they have to final say regarding the terms and conditions of the sale.

If you do not have a good Realtor to guide you through the REO process please feel free to give me a call.


John Forsyth
HomSmart- Elite Group
602-625-4675
j4syth@cox.net
0 votes Thank Flag Link Sat Jul 7, 2012
I too, just learned something.
We have found that different MLS's and different States have different ways of doing things.

The key to this is using a local Agent to buy or sell Real Estate:
If you were using a Realtor, you wouldn't need to ask us.
Please call a Realtor and have them represent you,
Buyer's Agents are free,
But not using one can be expensive!

Good luck and may God bless
0 votes Thank Flag Link Sat Jul 9, 2011
Hello Heatdog,
REO approval means that the property is owned by the bank (a foreclosure) and requires it's approval on any offers. REO means: real estate owned.
Hope that clarifies.
Good luck!

Laura Feghali
Prudential Connecticut Realty
0 votes Thank Flag Link Tue Jul 5, 2011
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