Let's start by clarifying that a foreclosure, REO, and bank owned are all the same thing. It means that the owner defaulted on the loan and the bank took the property b ... more
Probably means the bank had a better offer and they did not accept yours, OR they are holding your offer for just that, a back-up offer if the one they already accepted fails.
After a sheriff sale, the homeowner has a 10 day redemption period to reinstate the loan for the property from the lender in court. If that doesn't happen, then the ... more
YES!!!!!!!!!!!!!!!! I've been a REO agent for years and I always recommend buyers put in a back up offer. So many of these deals fall through, its not uncommon for my to have ... more