REO Property definition: Copy, customize, and use instantly
Introduction
The term "REO Property" refers to real estate owned by a lender, typically after a foreclosure. These properties are acquired by a bank or financial institution when the original borrower fails to repay the mortgage. REO properties are often sold at a discounted price and may be subject to additional costs for repairs and maintenance.
Below are various examples of how "REO Property" can be defined in different contexts. Copy the one that fits your needs, customize it, and use it in your contract.
Definition of "REO Property" as related to bank-owned assets
This definition ties "REO Property" to bank ownership after foreclosure.
"REO Property" refers to real estate properties that have been acquired by a bank or financial institution through foreclosure due to the borrower's inability to meet the loan obligations.
Definition of "REO Property" as an investment asset
This definition connects "REO Property" to investment opportunities.
"REO Property" means real estate properties that are owned by a lender following foreclosure, often viewed as investment opportunities for real estate developers or buyers seeking discounted properties.
Definition of "REO Property" as part of a distressed asset sale
This definition applies "REO Property" to distressed asset sales.
"REO Property" refers to real estate that has been repossessed by a financial institution due to the borrower’s default, often sold through public auction or private sale to recover the loan value.
Definition of "REO Property" as a form of non-performing loan collateral
This definition connects "REO Property" to collateral in non-performing loans.
"REO Property" means real estate that a lender has acquired after the borrower’s default, often used as collateral for a non-performing loan and sold to recover the outstanding debt.
Definition of "REO Property" as part of a portfolio liquidation
This definition ties "REO Property" to asset liquidation processes.
"REO Property" refers to properties that are part of a lender’s portfolio of foreclosed assets, typically liquidated to recover outstanding mortgage balances in a distressed sale.
Definition of "REO Property" as part of a real estate transaction
This definition connects "REO Property" to real estate deals.
"REO Property" means real estate that is owned by a lender after foreclosure proceedings, available for sale in real estate transactions with potential buyers seeking lower purchase prices.
Definition of "REO Property" as part of a property tax foreclosure
This definition applies "REO Property" to property tax defaults.
"REO Property" refers to real estate properties that have been taken by a lender or government entity due to a tax foreclosure, with the property being sold to recover unpaid taxes.
Definition of "REO Property" as part of a distressed property sale
This definition links "REO Property" to distressed real estate sales.
"REO Property" refers to a distressed property that has been repossessed by the lender after the borrower’s default and is now available for sale at a discounted price.
Definition of "REO Property" as part of a short sale alternative
This definition connects "REO Property" to short sales.
"REO Property" means real estate that has been foreclosed and acquired by a lender, often sold as an alternative to a short sale for the recovery of the mortgage balance.
Definition of "REO Property" as related to investor purchases
This definition ties "REO Property" to real estate investors.
"REO Property" refers to real estate that is owned by a financial institution after foreclosure and is often marketed to investors as an opportunity for rehabilitation or resale.
Definition of "REO Property" as part of a mortgage default
This definition connects "REO Property" to mortgage defaults.
"REO Property" means real estate that is taken over by a lender when a borrower defaults on a mortgage, with the lender assuming ownership in order to recover the outstanding loan balance.
Definition of "REO Property" as part of a distressed asset management strategy
This definition links "REO Property" to asset management strategies.
"REO Property" refers to properties acquired by a lender due to borrower default, and is a key component in a distressed asset management strategy to maximize recovery and resale value.
Definition of "REO Property" as part of foreclosure auctions
This definition applies "REO Property" to public auctions.
"REO Property" refers to properties sold at public auction or through other sale methods after the lender takes ownership through foreclosure proceedings.
Definition of "REO Property" as related to residential real estate
This definition ties "REO Property" to residential real estate transactions.
"REO Property" means residential properties that have been repossessed by a lender following foreclosure, often offered at below-market prices to potential homebuyers or investors.
Definition of "REO Property" as part of a commercial real estate deal
This definition connects "REO Property" to commercial real estate.
"REO Property" refers to commercial real estate that has been taken over by a lender following the borrower’s default on a commercial mortgage loan, available for purchase by investors.
Definition of "REO Property" as related to government-owned assets
This definition links "REO Property" to government-owned properties.
"REO Property" means real estate that has been foreclosed on and is now owned by a government agency, such as the Federal Housing Administration (FHA), which sells it to recover the outstanding loan balance.
Definition of "REO Property" as part of a loan recovery process
This definition applies "REO Property" to the loan recovery process.
"REO Property" refers to real estate that has been acquired by a lender after the foreclosure of the borrower’s property, sold to recover the outstanding mortgage balance.
Definition of "REO Property" as related to property maintenance
This definition ties "REO Property" to maintenance obligations.
"REO Property" means real estate that is held by a lender following foreclosure, and requires ongoing maintenance and repairs to preserve its value for resale.
Definition of "REO Property" as a liquidation asset
This definition connects "REO Property" to asset liquidation.
"REO Property" refers to assets that have been repossessed through foreclosure proceedings, held by the lender and then sold as part of the liquidation process to recover funds.
Definition of "REO Property" as part of a loan modification process
This definition links "REO Property" to loan modification.
"REO Property" refers to properties acquired by a lender after foreclosure, sometimes sold or held during a loan modification process to avoid further loss.
Definition of "REO Property" as related to non-performing assets
This definition ties "REO Property" to non-performing loan assets.
"REO Property" means a non-performing asset, where the lender assumes ownership of the real estate after foreclosure, with the intention of selling it to recover the unpaid loan.
Definition of "REO Property" as part of a defaulted mortgage recovery
This definition connects "REO Property" to mortgage defaults.
"REO Property" refers to real estate that has been repossessed by a lender after the borrower defaults on their mortgage, typically sold to recover the outstanding loan amount.
Definition of "REO Property" as part of an auction process
This definition links "REO Property" to auction sales.
"REO Property" means real estate property sold at auction by a lender after foreclosure, often sold at a significant discount to attract buyers and recoup some of the loan value.
Definition of "REO Property" as related to foreclosure prevention efforts
This definition ties "REO Property" to foreclosure prevention.
"REO Property" refers to properties that are owned by lenders following foreclosure, often requiring intervention to prevent further deterioration or loss of value through foreclosure prevention efforts.
Definition of "REO Property" as part of a bank asset portfolio
This definition connects "REO Property" to bank asset portfolios.
"REO Property" refers to properties that are part of a bank’s asset portfolio, acquired after foreclosure, and sold off to liquidate the property and recover as much value as possible.
Definition of "REO Property" as related to asset recovery efforts
This definition links "REO Property" to asset recovery.
"REO Property" means real estate properties obtained by lenders through foreclosure, managed and sold to recover the outstanding debt owed on the mortgage.
Definition of "REO Property" as part of a lender’s liquidation strategy
This definition connects "REO Property" to strategic liquidation.
"REO Property" refers to real estate assets held by a lender after foreclosure, strategically liquidated to maximize the return on defaulted loans.
Definition of "REO Property" as related to loan foreclosure
This definition ties "REO Property" to foreclosure procedures.
"REO Property" means property acquired by a lender due to the borrower’s failure to meet mortgage obligations, often after foreclosure proceedings.
Definition of "REO Property" as part of a sale to recover losses
This definition links "REO Property" to loss recovery.
"REO Property" refers to properties sold by a lender following foreclosure to recover losses from a non-performing loan.
This article contains general legal information and does not contain legal advice. Cobrief is not a law firm or a substitute for an attorney or law firm. The law is complex and changes often. For legal advice, please ask a lawyer.