An REO (Real Estate Owned) is a property that goes back to the mortgage company after an unsuccessful foreclosure auction. You see, most foreclosure auctions do not even result in bids. After all, if there was enough equity in the property to satisfy the loan, the owner would have probably sold the property and paid off the bank. That is why the property ends up at a foreclosure or trustee sale.
Foreclosure sales begin with a minimum bid that includes the loan balance, any accrued interest, plus attorney's fees and any costs association with the foreclosure process. In order to bid at a foreclosure auction, you must have a cashier's check in your hand for the full amount of your bid. If you are the successful bidder, you receive the property in "as is" condition, which may include someone still living in the property. There may also be other liens against the property.
Since what is owed to the bank is almost always more than what the property is worth, very few foreclosure auctions result in a successful sale. Then the property "reverts" to the bank. It becomes an REO, or "real estate owned" property.
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ID: 12-136702
Bathrooms: 1
Sq. Feet: 420
Year Built: 1986
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Studio condo unit located at Brian Head Ski Resort with full kitchen, appliances, fireplace, forest view. HOA fees $235 a month, club house, etc. Homeowner......
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ID: 12-135423
Bedrooms: 1
Bathrooms: 2
Sq. Feet: 720
Year Built: 1985
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Nice condo at the mouth of Parowan Canyon on the way to Brian Head. Loft bedroom with 2nd sleeping area off the living room. Laundry hookups. Seller will......
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ID: 12-134697
Bedrooms: 4
Bathrooms: 2
Sq. Feet: 1,782
Lot Size: 0.25 Acres
Year Built: 1999
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REDUCED,OPEN TO ALL BIDDERS!!Large yard on a corner lot,inside there is an open floor plan including a fireplace.HUD HOME,SOLD AS IS,CASE #521-455936.Bids......
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ID: 12-137200
Bedrooms: 2
Bathrooms: 2
Sq. Feet: 1,294
Lot Size: 0.26 Acres
Year Built: 1984
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Cute little modular home located in the rural town of Central.Surrounded by Junipter Pine trees.With the cooler climate, this is a perfect summer get-away......
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ID: 12-135661
Bedrooms: 2
Bathrooms: 1
Sq. Feet: 896
Lot Size: 0.50 Acres
Year Built: 1998
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Nice newer home on a large lot. Great starter with room to add on. Seller will povide a 2-yr home owner warranty for owner-occupied purchases. This property......
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ID: 12-137758
Bathrooms: 1
Sq. Feet: 864
Lot Size: 0.16 Acres
Year Built: 1983
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Great home with fenced yard in an established neighborhood close to schools, shopping and restaurants....
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ID: 12-135187
Bedrooms: 4
Bathrooms: 2
Sq. Feet: 1,920
Lot Size: 1.00 Acres
Year Built: 1975
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Foreclosure Paradise in the heart of central Utah. Loa, is near Fish Lake and Capitol Reef. Recently updated with new......
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ID: 11-133439
Bedrooms: 3
Bathrooms: 2
Sq. Feet: 1,231
Lot Size: 13.16 Acres
Year Built: 1994
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If you want wide open spaces, here?s the property you?ve been looking for. 13 gorgeous acres with a 3 bedroom/2 bath mobile home. A nature lover?s paradise,......
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ID: 12-137429
Bedrooms: 3
Bathrooms: 2
Sq. Feet: 1,460
Lot Size: 0.23 Acres
Year Built: 1980
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This property and the terms of its sale is now under auction terms and conditions. All pre -auction event bids should be submitted through www.auction.com,......
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ID: 12-136902
Bedrooms: 2
Bathrooms: 1.8
Sq. Feet: 926
Year Built: 2005
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Single-level condo on the 1st floor of Building B in the LaVenita condo complex.Located near freeway.Perfect little starter home without much to do to make......
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ID: 12-135331
Bedrooms: 3
Bathrooms: 2
Sq. Feet: 1,541
Lot Size: 0.14 Acres
Year Built: 2006
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First look expires on 2-28-2012. During this 15 days it is open to owner occupied and second home purchases only. Ask about 2 yr HOW. 3 Bedroom 2 bath, 2......
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ID: 12-137104
Bedrooms: 3
Bathrooms: 2
Sq. Feet: 1,568
Lot Size: 0.29 Acres
Year Built: 1993
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Opportunity for investment knocks. This home has a lot of potential & with a little TLC you can make it shine! This is an REO property. Seller reserves the......
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ID: 12-135315
Bedrooms: 3
Bathrooms: 1.8
Sq. Feet: 1,443
Lot Size: 0.05 Acres
Year Built: 1978
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Cute townhome located in the Sunrise Village Townhomes community.Big windows in Living Room for lots of natural lighting.Vaulted ceilings.Wood burning......
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ID: 12-135205
Bedrooms: 2
Bathrooms: 2
Sq. Feet: 1,209
Lot Size: 0.04 Acres
Year Built: 1986
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PLEASE INCLUDE WITH ANY OFFER A COPY OF EARNEST MONEY PROOF OF FUNDS OR PRE APPROVAL LETTER FROM LENDER. PART OF FIRST LOOK INITATIVE UNTIL 02/24/2012. REFER......
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ID: 12-136791
Bedrooms: 2
Bathrooms: 2
Sq. Feet: 1,033
Lot Size: 0.03 Acres
Year Built: 1985
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BRAND NEW Paint & Appliances being installed! Cute 1st home or Vacation property in Downtown St. George! Just a few blocks to the Historic St. George......
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ID: 12-136788
Bedrooms: 3
Bathrooms: 1
Sq. Feet: 1,026
Lot Size: 0.22 Acres
Year Built: 1979
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Cute, single family home in the Graham subdivision.Some updates have been made.Tile flooring throughout,updated bathroom w/backsplash & tile countertops plus......
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ID: 12-137465
Bedrooms: 3
Bathrooms: 2
Sq. Feet: 1,526
Lot Size: 0.30 Acres
Year Built: 1996
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Great home on a large lot with some tile flooring. Two tone paint and plant shelves. Established neighborhood....
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ID: 12-137479
Bedrooms: 3
Bathrooms: 2
Sq. Feet: 1,092
Lot Size: 0.25 Acres
Year Built: 1992
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You?ll love the look and scent of NEW CARPET, PAINT & WHIRLPOOL APPLIANCES in this fantastic single family home in picturesque Ivins. Located close to......
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ID: 12-137267
Bedrooms: 3
Bathrooms: 2.5
Sq. Feet: 1,405
Lot Size: 0.04 Acres
Year Built: 2005
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What a great starter home! Doubles nicely as investment property, located just minutes to schools & major retail such as Costco, Home Depot, the works.......
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ID: 12-135328
Bedrooms: 3
Bathrooms: 2
Sq. Feet: 1,566
Lot Size: 0.23 Acres
Year Built: 1992
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Single family home with in-ground pool in great location close to schools and parks ready for your custom remodel! Home is eligible for HomePath Renovation......
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ID: 12-137781
Bedrooms: 6
Bathrooms: 2
Sq. Feet: 2,568
Lot Size: 0.40 Acres
Year Built: 1930
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SERENITY NOW! with this charming historic home in a park like setting. Located in downtown St. George close to everything. Large lot with mature landscaping......
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ID: 12-136728
Bedrooms: 3
Bathrooms: 2
Sq. Feet: 1,835
Lot Size: 1.06 Acres
Year Built: 1987
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3 bedroom 2 bathroom home on over 1 acre. Located in the winchester hills area. Bank of America prequal required on all offers. Proof of funds for cash......
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ID: 12-137491
Bedrooms: 3
Bathrooms: 2
Sq. Feet: 1,995
Lot Size: 0.38 Acres
Year Built: 2001
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GREAT HOUSE WITH DETACHED SHOP/GARAGE THAT COULD HOLD UP TO 4 ADDITIONAL VEHICLES PLEASE INCLUDE WITH ANY OFFER A COPY OF EARNEST MONEY PROOF OF FUNDS OR PRE......
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ID: 12-136914
Bedrooms: 3
Bathrooms: 2
Sq. Feet: 2,188
Lot Size: 0.22 Acres
Year Built: 1984
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Fantastic home in Bloomington Hills near St. George Golf Club. *NEW CARPET, PAINT, APPLIANCES and bathtubs/hardware being installed!* Open floor plan, large......
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ID: 12-137445
Bedrooms: 2
Bathrooms: 2
Sq. Feet: 1,402
Lot Size: 0.20 Acres
Year Built: 2002
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Sparkling clean and bright vacation or 1st home in Sky Mountain Golf Estates. It?s tough to find a cleaner, more scenic, better maintained area than Sky......
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ID: 12-135148
Bedrooms: 3
Bathrooms: 3
Sq. Feet: 3,521
Lot Size: 0.05 Acres
Year Built: 2005
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Nice upgraded home located in the Shadow Mountain Townhomes subdivision.Stainless steel appliances in Kitchen,granite countertops.Uncovered deck runs along......
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ID: 12-136519
Bedrooms: 3
Bathrooms: 2
Sq. Feet: 1,814
Lot Size: 0.18 Acres
Year Built: 1996
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please include with any offer a copy of Earnest Money check, proof of funds and/or pre QUALIFIED letter from lender. Part of first look initiative until......
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ID: 12-137116
Bedrooms: 3
Bathrooms: 1.8
Sq. Feet: 1,548
Lot Size: 0.23 Acres
Year Built: 2000
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Cute single family home on cul-de-sac with desert landscaping.Only a couple miles from Tuacahn Performing Arts Center,the world famous Red Mountain Resort &......
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ID: 12-137318
Bedrooms: 3
Bathrooms: 2
Sq. Feet: 1,463
Lot Size: 0.18 Acres
Year Built: 2002
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Located on the 10th green on Sky Mountain Golf Course. Nice open kitchen wtih greatroom. Covered patio with amazing views!When submitting an offer, you MUST......
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ID: 12-137603
Bedrooms: 2
Bathrooms: 2
Sq. Feet: 2,187
Lot Size: 0.08 Acres
Year Built: 1986
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Large living areas, great location. Views from the patio, top notch community ammenites. Immaculatly kept community. Square footage taken from county......
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ID: 11-133533
Bedrooms: 2
Bathrooms: 2
Sq. Feet: 1,486
Lot Size: 0.12 Acres
Year Built: 2003
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*** See Private remarks for Door Code *** One of the most private backyards in Sun River! This model also has a guest bedroom and bath located in there own......
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ID: 12-135834
Bedrooms: 3
Bathrooms: 2.5
Sq. Feet: 2,466
Lot Size: 0.18 Acres
Year Built: 2001
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Large family home with living room open to 2nd floor with spectacular natural lighting. Beautiful decorative lead and bevel accented windows. Large open......
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ID: 12-137336
Bedrooms: 3
Bathrooms: 2.5
Sq. Feet: 2,206
Lot Size: 0.25 Acres
Year Built: 1993
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Great home in Bloomington Lanes. Nice patio to enjoy the quite neighborhood. 3 bedroom, 2.5 bath with open floor plan....
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ID: 12-137141
Bedrooms: 5
Bathrooms: 4.5
Sq. Feet: 4,399
Lot Size: 0.31 Acres
Year Built: 2001
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Unique home next to mountain side in downtown Hurricane. Property boosts a great view of area with large decks surrounding second level. Home has two living......
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ID: 12-136780
Bedrooms: 3
Bathrooms: 2
Sq. Feet: 3,228
Lot Size: 1.85 Acres
Year Built: 2007
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The main level of this beautiful home is semi rustic finished with an open living room, kitchen and dining area, 3 Bedrooms, 2 Baths and laundry room. The......
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ID: 12-137532
Bedrooms: 4
Bathrooms: 3
Sq. Feet: 2,750
Lot Size: 0.31 Acres
Year Built: 2001
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4 Bedroom, 3 Bath 1 1/2 story home in Pointe West Estates. 3 car garage with RV parking as well. Quiet Cul-De-Sac Location. Great Curb Appeal, Lots of......
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ID: 12-136252
Bedrooms: 4
Bathrooms: 3.5
Sq. Feet: 2,876
Lot Size: 0.42 Acres
Year Built: 2006
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Wonderful floor plan, amazing master suite & bath. Very private w/great views of the red mountains. Lots of storage. Property sold ''AS IS/WHERE IS''; NO......
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ID: 11-131675
Bedrooms: 4
Bathrooms: 4
Sq. Feet: 2,880
Lot Size: 1.55 Acres
Year Built: 2005
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Amazing 2,880 sq ft, 4 bedroom, 3.5 bath custom built home in Sky Ranch community on 1.55 acre lot. Home features granite counters, custom cabinets, lots of......
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ID: 12-137024
Bedrooms: 5
Bathrooms: 6.5
Sq. Feet: 6,473
Lot Size: 0.37 Acres
Year Built: 2003
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BANK FORECLOSURE. Let someone elses problem become your gain. Elite home with Gourmet kitchen, office, library, pool/spa/steam bath, slate, marble, granite,......
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ID: 12-137386
Bedrooms: 4
Bathrooms: 3.5
Sq. Feet: 8,403
Lot Size: 0.27 Acres
Year Built: 2007
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Spacious custom home with french country charm and exceptional curb appeal in established neighborhood, upgraded carpet and tile flooring, granite......
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ID: 12-134703
Bedrooms: 6
Bathrooms: 6.5
Sq. Feet: 6,001
Lot Size: 7.46 Acres
Year Built: 2001
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REO Owned and sold ''as-is'' with no disclosures. Incredible Property! 3 Kitchens! Hardwood floors! Built-in desk in Office! Ask about the stock automatic......
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