The REO Guide: 10 Steps to Buying a Bank-Owned Home
PennyMac
DECEMBER 22, 2020
In many cases, lenders are motivated sellers who do not want to sit on their REO inventory, and (depending on the bank’s history with the property) these homes may be priced at a discount. During the appraisal, a licensed appraiser will take inventory of major systems (i.e., Step 6: Make an Offer.
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