Defined: REO (Real Estate Owned) properties are those that a lender takes back following a foreclosure action. Bulk REO as an asset class simply means that a package of REO properties is offered for sale in a single transaction.
The primary benefit to buying purchaser of REO properties is that pricing is often below market value, and the benefit of buying in bulk is that typically pricing becomes even more favorable since it’s more efficient for lenders to liquidate multiple properties all at once.
What this means for you
Heritage Capital USA buys and sells packages of bulk REO as well as single REO properties. If you are interested in taking advantage of the discounts and potential seller financing available when buying REO properties, please contact us using the form on this page.