What is REO and Trustee Deed?

Asked by Lisa, Pelion, SC Thu Oct 6, 2011

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Anna M Brocco, Agent, Williston Park, NY
Thu Oct 6, 2011
An REO, real estate owned, is a property owned by a lender, generally as a result of foreclosure; a trustee deed is a legal document that transfers title to a purchaser after a foreclosure; for any necessary legal advice, do consult with an attorney who specializes in real estate.
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The Stephen…, Agent, Portland, OR
Thu Oct 6, 2011
REO stands for Real Estate Owned. It's a synonym for a foreclosed property. Maybe another agent can proffer a good definition of a Trustee Deed. Your title company would certainly be able to do so.
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