Because the bank never lived in the home, they often cannot provide detailed disclosures about its history or "hidden" defects.
What You Should Know About Buying an REO Property - Attorney buying reo property
Unlike many foreclosure auctions, REO buyers typically have the right to visit and professionally inspect the property before finalizing the deal. Critical Risks & Considerations Because the bank never lived in the home,
Lenders are often highly motivated to sell to remove non-performing assets from their books, sometimes resulting in prices below market value. buying reo property