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Reo building is the name that is offering to an item of real estate that the financial institution took possession of due to foreclosure, they then attempted to market the building on the public auction format and also the home did not offer. When this occurs the bank goes right into recovery setting with the residential or commercial check my source property. Their major goal is to recover cost with the real estate. The need to look at here now clear up and recover cost is what makes a reo the excellent option for the very first time flipper. The cash that you save on contracting the building will certainly give you additional money to do add-ons as well as repair services making your home worth much more.