Just because it is an REO does not mean therre are multiple offers. Maybe yes and maybe no. REO's are not necessarily the deal anyway. All the banks want is as much as they can get from whomevery they can extract it from as soon as possible. Make sure you see the appraisal your lender orders for you!
Best of luck.
Let us know how things go.
Have a great evening.
Without seeing the disclosure itself, my best guess would be that it has information for you on how that particular Seller handles multiple offer situations, and the most important information would be that you do not have an accepted, legally binding contract, until it is signed by the Seller. You may be asked to tender a best and final offer along with everyone else who has submitted an offer, or multiple counter offers may be extended. Your realtor should be able to explain the disclosure more fully to you, so give them a call.
Florida Home Consulting, Inc