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What is the difference in property preservation and reo?

Anonymous

∙ 13y ago

Updated: 9/18/2023

REO(real estate owned) is a type of property that is worked on in the category property preservation. There is also PPO as well. Property preservation as a whole takes care of this as a line of work. It's like asking the difference between a band and a guitarist. The guitarist is in the band.

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∙ 13y ago

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REO or Real Estate Owner is an expression used in the US for the person or the entity who owns possession of any property when the property is not sold in an auction. Whereas Property Preservation means the maintenance of the interior and the exterior of the whole property by hiring the specialist in the field of property preservation processing services. Property Preservation Processor

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∙ 5y ago

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Related Questions

What is the meaning of reo properties?

A Real-Estate Owned Property, or REO property means that a property is owned by the original lender that was not sold during foreclosure. REO properties are noticeable because usually the upkeep of the property is not the best.

What is ppr and reo?

PPR can stand for a number of things, but since you're asking about both it and REO, you probably mean the "Personal Property Rental." Personal property is just property that can be moved. REO stands for "Real Estate Owned." REO properties are a type of property owned by a lender rather than the person or entity inhabiting the space. Any work done on that type of property is done by a place like REO Repair Pros, which exclusively offers REO services.

What is the phone number of the Bailey Property Preservation in Menominee Michigan?

The phone number of the Bailey Property Preservation is: 906-863-3347.

What is a reo property?

REO (Real Estate Owned) is a class of property owned by a lender, typically a bank, after an unsuccessful sale at a foreclosure auction. A bank will typically set the opening bid at a foreclosure auction for at least the outstanding loan amount. If there are no bidders that are interested, then the bank will legally repossess the property. This is usually the case as the amount owed on the home is probably higher than the value of this foreclosure property. As soon as the bank repossess the property, it is listed on their books as REO, and is categorized as an asset (non-performing).

What is the proper meaning for REO in mortgage terms?

REO- Real Estate Owned or Bank owned, which means the real estate property is no longer mortgaged~ as a result of forfeiture or foreclosure.

Can an owner sell a property that is real estate owned?

Real Estate Owned, or REO, is a class of property that is owned by a lender. The lender can sell the property.Real Estate Owned, or REO, is a class of property that is owned by a lender. The lender can sell the property.Real Estate Owned, or REO, is a class of property that is owned by a lender. The lender can sell the property.Real Estate Owned, or REO, is a class of property that is owned by a lender. The lender can sell the property.

Where is the Bailey Property Preservation in Menominee Michigan located?

The address of the Bailey Property Preservation is: N6634 S Harbor Ln, Menominee, MI 49858-9529

How do you find customers for your trash out business?

The banks and Reo Asset Management companies require trash out vendors to register with them directly to get the foreclosure cleaning jobs and contracts. There are literally hundreds of banks and asset management companies you can sign up with, I would recommend getting a good bank contact list and then signing up with them all. You should also consider the Foreclosure Cleanup Network to get work from Reo agents directly and the Property Preservation Directory.

What happens if nobody bids on foreclosure?

The bank who forecloses becomes the owner of the real estate. They then sell the property as an "REO asset" to try and get the money back to payoff the mortgage. REO stands for "real estate owned."

What is the birth name of Don Reo?

Don Reo's birth name is Donald Louis Reo.

How tall is Reo Logan?

Reo Logan is 7'.

What does REO stand for in real estate?

REO stands for 'real estate owned'. It is the term used to describe property that is in the possession of a lender by virtue of a foreclosure. That means the foreclosure has already taken place, the bank has the title to the property and the bank can sell it. When purchasing REO property is is extremely important to have the title examined by a professional title examiner and the title certified by a competent attorney . Many lenders, to save money, have only the present owner checked at the time of the foreclosure. Due to the professional laxity in purchasing and mortgaging real estate over the past 10-15 years REO properties are fraught with title defects and undisclosed liens and encumbrances that occurred during prior ownerships. Also, many title insurance companies have been "insuring over" defects rather than resolving them. You need to know if there are any title defects on the property prior to purchase. The only way to protect your investment is to have an attorney who is a real estate specialist represent you if you decide to purchase REO property.

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