REO (Real Estate Owned) properties are bank-owned properties that failed to sell at foreclosure auction. 1st Option Title handles the specific title and closing requirements for REO transactions.
REO closings require compliance with the lender's specific closing instructions, corporate resolution documentation, and often special title endorsements. We work regularly with bank REO departments and their requirements.
REO properties may have environmental liens, municipal liens, HOA violations, or title defects from the foreclosure process. Our thorough title search identifies these issues before closing.
Contact 1st Option Title to discuss your transaction.