Once a foreclosure has gone to auction and failed to sell, it becomes a Real Estate Owned(REO), or bank owned, property. Most homes do not sell at auction, most fail to even get any bids.
An REO property is the least likely of the foreclosure properties to represent a bargain, but it is also the least risky. The property can be fully inspected, any title issues can be found and dealt with, and the sale can be subject to a mortgage. REO properties also tend to be in better condition than other foreclosure properties.VA REO properties are available a
REO properties are available in Alexandria, VA and throughout Virginia and Maryland. As a Short Sale Foreclosure Resource I am trained and equipped to assist you with the purchase or sale or foreclosed or distressed property. Contact me if you need help buying or selling.