REO, or real estate owned, is defined as property owned by the lender, usually a bank, after a foreclosure or unsuccessful sale. If the bank cannot sell the property for at least the outstanding loan amount, it will be repossessed and transformed into an asset. Once the property is successfully repossessed, the bank will usually attempt to resell it to the public through a broker, removing liens and other expenses on the home. REO properties are generally good investments that grow in value through repairs and maintenance, providing favorable returns. Gadish Properties, an eminent Los Angeles-based Real Estate Brokerage, has been selected as the Preferred Vendor of multiple financial institutions that acknowledge the superior work of the brokerage’s REO team. As a Preferred Vendor, Gadish Properties receives a high volume of REO properties, empowering it to develop its large network of builders and investors who invest in REO land and houses. Gadish Properties moves REO properties quickly and efficiently through this network, enabling it to take on a higher volume of properties from banks and other institutions. In California, Gadish Properties is one of the top two REO brokerages and is listed as one of the top 10 on a national level. At present, Gadish Properties represents REO properties not just in Southern California, but throughout the entire state. Gadish Properties has land and homes for sale in Beverly Hills, Century City, Brentwood, and the San Fernando Valley, areas as well as such neighborhoods as Hollywood and Beverlywood. For a complete listing of properties for sale through Gadish Properties, visit the brokerage online at www.gadishproperties.com.
What is REO property?