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Miami and Orlando REO Properties

Real estate owned or REO is a property owned by a lender, typically a bank, after an unsuccessful sale at a foreclosure auction. After an unsuccessful foreclosure auction, the bank will go through the process of trying to sell the property on real estate market. The bank will remove some of the liens and other expenses on the home or condo unit and try to resell it to the public.

Generally, REO properties are in a poor condition in terms of repairs and maintenance; however, buyers are often interested in these foreclosure properties because the low price can potentially compensate for the condition of the purchased property. In these types of transactions, the seller/bank has priced the property for what it would be willing to accept. In some cases, there may be more than one offer from perspective buyers. Here, usually, a winning offer is made for the full asking price or higher, without any contingencies and as a cash transaction.

Due to the high number of responses to our distress sales properties we suggest that you complete the request information form in full and one of our distress sales specialists will get back to you soon. When you decide that you're ready to invest in real estate and buy distressed properties please contact us and let's get started! You are always welcome to call us at 1.305.542.1531