Q: What does REO mean?
A: REO is an acronym for “Real Estate Owned.”
Q: Why do people purchase REO properties?
A: The properties are often listed “as is.” That makes them great opportunities for those who want to buy and fix up the properties and use them as a principle residence or an investment property.
Q: How is purchasing REO properties different from regular real estate purchases?
A: REO properties are owned by corporations not individuals which leads to significant differences in all aspects of the purchase.
Q: What should I know about buying at a “Trustee’s Sale”?
A: Do your research before buying and use extreme caution before investing. Properties purchased at a Trustee’s Sale are sold “as-is” for cash. There are no refunds.
Questions About BPO
Q: What does BPO mean?
A: BPO is an acronym for “Broker Price Opinion.”
Q: Why are BPO’s conducted?
A: Sunquest’s team performs a BPO of a residential property for use in collections and loss mitigation.
Q: What is contained in a BPO report?
A: The report combines information from a drive-by exterior examination, external data sources, previous sale data, property assessment data, recent comparable sales and current neighborhood listings, as well as a photograph of the subject property.
Q: What are the advantages of a BPO?
A: BPOs significantly lower loan costs and decrease turnaround time. They also provide reliable valuations to minimize credit risk. Also, an up-to-date property photograph helps assist in identification of visible deferred maintenance.
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Some of the services offered by Greg and his Team,
Arizona Real Estate, Buying a home in Arizona, Selling a home in Arizona, Arizona REO, Arizona Foreclosure Help, Arizona Area Information, Arizona School Info, Arizona Refinance Quotes, Arizona Mortgage, Commercial Loans and Financing.
If you see any real estate service that is not covered please Contact us. We have many years of experience that we should be able to help you out.