A foreclosure happens when a Homeowner loses their home due to non-payment of mortgage, violating the due on sale clause, failing to keep taxes and insurance paid, or failing to maintain the property.
Foreclosed homes are termed REOs. They are owned by the banks (Sellers) and usually sold “REO AS IS”. This means repairs and maintenance are not required by the Sellers and that Buyers must be prepared to accept the property “REO AS IS”.
An REO agent is hired by the bank to manage and market foreclosed homes during the various stages until sold and escrow closed. REO agents deal with the bank’s asset managers.
The A Team is proud to say that we have been chosen by some of the largest banks in the nation to manage and market REO properties. Less than 2% of agents nationwide can call themselves an REO agent.
This means, we are an excellent choice for Buyer s who are seeking to make offers on foreclosure properties. The A Team knows how to get offers in front of bank’s Asset Managers to review these offers for possible acceptance.
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Please call The ATeam with any questions or to view a home of your choice.