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Reo residential property is the name that is providing to a piece of real estate that the bank took ownership of because of foreclosure, they then tried to offer the residential or commercial property on the public auction layout as well as the home find out did not market. When this takes place the bank goes into recuperation setting with the residential property. Their primary goal is to recover cost with the real estate. The demand to clear up as well as break even is just what makes a reo the ideal selection for the very first time flipper. The money that you reduce contracting the residential or commercial property will offer you money to do add-ons and also repairs making your home well worth much more.