REO (real estate owned, meaning property that the bank owns as a result of foreclosure) transactions are peculiar in several ways. Because the seller does not attend settlement they require that the HUD 1 settlement statement be sent to them days in advance for signature. Until we have a confirmed settlement date from the buyer’s […]
Tag Archives | REO
What does “REO” mean?
By Dan Kotz on April 8, 2014 in Real Estate