what does reo resale mean?

Asked by anybodythere08, Saugerties, NY Tue Jun 25, 2013

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Martina Ryan, Agent, Flushing, NY
Wed Jun 26, 2013
It generally refers to bank owned properties.
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Scott Godzyk, Agent, Manchester, NH
Tue Jun 25, 2013
REO stands for "Real Estate Owned" and refers to after a home goes through the foreclosure process and the bank then takes the property back. It then becomes an REO where the bank becomes the owner and will sell off the property.
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Gail Gladsto…, Agent, 11743, NY
Tue Jun 25, 2013
An REO refers to a bank repossessed foreclosure.
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