Veena Grover: Bay Area REO Expert
Brief Overview – what is an REO property?
An REO property is “Real Estate Owned” by the bank or other lender. Typically, an REO property has already been foreclosed upon and gone to auction without having been successfully bid on. The property is then owned by the bank.
Benefits of purchasing an REO property vs. foreclosures of short sale property:
- Banks are motivated to sell the home and get it off their books quickly.
- Unlike a foreclosure sale, you have time to view the property and get the appropriate inspections.
- Less time pressure: don’t have to make a quick decision as with an auction.
Issues to Consider:
- Not all REO properties are bargains. One must consider the property’s condition, price and market factors, as well as evaluate comparable properties.
- Many REO properties are marketed “as-is”; thus, its critical to negotiate a thorough inspection of the property for any defects / damage.
How Veena Can Help You:
Veena’s Bay Area REO experience is an important asset to potential buyers of REO properties: she has closed several REO transactions this year, has negotiation expertise with banks, and knows the latest data in the Bay Area market to ensure you get an attractive deal.
Veena’s team includes a Mortgage Consultant with years of experience in dealing with banks and asset managers, through various economic cycles. We commit to providing you with reliable, helpful advice and attentive service to execute your transaction.
