REO Properties or Real Estate Owned Properties are known as foreclosure properties that are currently bank-owned. When a real estate property is deemed “real estate owned,” it means that the property is now owned by a bank, government agency typically, or government loan insure since the property is no longer income-producing.
For the right buyer REO Properties can be an affordable way to start investing in Commercial Real Estate. Still, one needs first to distinguish what exactly they can afford and what options are right for them because the process of finding and negotiating these sales can be different from a traditional real estate sale.