09/01/2026
đŚ FORECLOSURE â REO⌠now what?
Weâve talked about short sales, bankruptcy, and foreclosure, so this week on Title Tidbits, weâre taking the next step: REO properties.
REO stands for Real Estate Owned, and it typically means the property went through foreclosure, didnât sell at the foreclosure sale, and ended up back with the lender.
But hereâs where Realtors need to pay attention đ
An REO isnât quite your typical resale. Youâre dealing with a bank, their addendum, their timelines, and their rules⌠lots of rules. đ
And one of the biggest misconceptions?
Foreclosure does NOT automatically mean every lien or title issue disappeared.
Thatâs why getting title involved early matters. Weâre looking at the foreclosure history, liens, and other potential title issues to help make sure your buyer can ultimately receive insurable title.
REOs can absolutely be great opportunitiesâyou just need to know what youâre walking into.
⨠Read the addendum.
⨠Watch your timelines.
⨠Do your due diligence.
⨠Get your title team involved early.
And if you open an REO contract and think, âVanessa⌠what am I looking at?â đ Send it my way. Iâm always happy to be a resource for you and your clients.
Title Tidbits with Omega National Title đ
Making title a little easier to understand, one Tuesday at a time.