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REO Advisory For Properties Being Sold by a Lender After Foreclosure PDF Print E-mail

In REO (Real Estate Owned) properties, the Seller of the Property is a lender who has acquired title to the Property either by foreclosure or through a deed given in lieu of foreclosure. Many obligations imposed upon sellers, particularly sellers of real property containing one-to-four dwelling units, may not be applicable to the sale of the Property. However, even though Seller is exempt from many obligations, Seller must still comply with many others. Further, even though a Seller may be exempt from certain obligations, a real estate broker’s obligations may still apply. This Advisory is intended to inform Buyer and Seller of their rights and obligations independent of those established by the contract between them.

Click here to read more about REO Advisory by the California Association of Realtors.

 
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