Real Estate Owned
REO, or Real Estate Owned, means that the lender has foreclosed on a defaulted loan and has acquired the secured property. Foreclosing is only part of the process. To complete the process, the lender must be able to dispose of the asset. Our REO department specializes in representing our lender clients to ensure that REO properties are closed in a smooth and timely manner while at the same time assisting purchasers in acquiring a new home or a potentially lucrative investment opportunity.
Our firm handles REO closings throughout the southeastern United States, including Alabama, Georgia, Mississippi, North Carolina, and Tennessee. The REO process begins with the title order, at which time we order a preliminary title search. We review the title search to identify any title issues and we strive to resolve all title issues prior to the acceptance of a contract. Once the property goes under contract, we coordinate with all parties involved in the transaction, including the seller, buyer, and listing and selling agents, to make sure that the closing occurs on time.