In the world of Uptown Charlotte condos, an REO (real estate owned) property is one that has gone through foreclosure and is now bank owned. Each lender work a little differently but they all want to get rid of their REO’s.
The longer they hold onto them, the more of a headache it is for the banks. There can be some great budget-friendly and haggling towards purchase opportunities with these properties as they are much faster than Short Sales and usually easier to deal with. Your dream Uptown Charlotte condo could now be real estate owned.
Looking to buy a REO property? Email me!