REO stands for Real Estate Owned or Bank Owned property that has come back to the back through the foreclosure process. There are REOs in Myrtle Beach, and you will find throughout Myrtle Beach and the surrounding areas they are increasing in numbers. Myrtle Beach bank owned real estate is a great way to purchase property if that is something that you are considering, but in most cases there are some key points to keep in mind.
Myrtle Beach bank owned real estate is sold "as is", and there won't be a seller's disclosure as the lender does not know how well the previous owner maintained the property. Of course, with all Myrtle Beach bank owned property financing is very important to the bank. The bank will want to ensure that before they even respond to an offer, the possible purchaser will need to verify that financing won't be an issue.
Finding Myrtle Beach Bank Owned Property
Contact a Willis Team professional to find bank owned property, foreclosures or short sales in the Myrtle Beach area. We offer our experience and knowledge of the Myrtle Beach market to help you in finding short sales, REOs, and foreclosures.