The KBA option, in combination with eSign's password validation, gives Form Simplicity users the tools to meet the strict electronic signature requirements set in place by both banks and lenders for short sale, deed in lieu and
real estate owned properties transactions.
As the market shifted in 2008, Leo adapted his business and returned to Keller Williams where he began his career and focused on short sales and
real estate owned properties as the market was in turmoil.
Real estate owned properties are typically sold «as is,» meaning the homebuyer is on the hook for any repairs — including major structural issues — that need to be fixed.
Real estate owned properties may be sold below market value, but not as low as they would list for in a foreclosure auction.
Banks often sell non-performing loans on discount in order to avoid taking on
real estate owned properties.
There are a number of HUD homes on the HUD Home Store, which are REO or
real estate owned properties.
Equifax Mortgage Services» senior vice president and general manager Craig Crabtree says that
real estate owned properties and shadow inventory are performing a main role in the current mortgage market and slowing down the road to recovery of the economy.
The sale of foreclosed properties and
Real Estate Owned properties are not considered «arm's length» because there is tremendous downward pressure on the sales price to get the home sold and off the bank's books quickly.
You may also see these properties referred to as REO or
Real Estate Owned property.
Discrimination based on race and national origin plays a significant role in the maintenance and marketing of
real estate owned properties,» says Shanna L. Smith, president and CEO of the National Fair Housing Alliance.
Real estate owned properties are typically sold «as is,» meaning the homebuyer is on the hook for any repairs — including major structural issues — that need to be fixed.