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: 13-145838
Bedrooms: 2
Bathrooms: 2
Sq. Feet: 1,008
Year Built: 1999
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This unit and the ''M'' building are currently condemned by the City of St. George. Very cute unit overlooking the City. The interior is in very good......
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ID: 13-143946
Bedrooms: 2
Bathrooms: 1
Sq. Feet: 1,024
Lot Size: 0.29 Acres
Year Built: 1907
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Cute older home on a large lot. Large storage shed or workshop with a roll up garage type of door that could be a garage....
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ID: 13-146381
Bedrooms: 2
Bathrooms: 2
Sq. Feet: 1,056
Lot Size: 0.17 Acres
Year Built: 1979
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This foreclosed mobile home is located on it's OWNED corner lot. This 2 bed, 2 bath home has tons of potential, with the large yard and storage sheds.......
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ID: 13-144582
Bedrooms: 2
Bathrooms: 1
Sq. Feet: 1,320
Lot Size: 0.32 Acres
Year Built: 1962
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Imagine spending your summers near the National Monument,Escalante Grand Staircase,Lake Powell & Kodachrome Basin State Park.The Escalante night skies......
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ID: 13-146390
Bedrooms: 3
Bathrooms: 2
Sq. Feet: 1,476
Lot Size: 0.18 Acres
Year Built: 1939
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Cute Home with lots of possibilities. This property is eligible under the Freddie Mac First Look Initiative through 05/22/2013. See Attached Documents for......
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ID: 13-145709
Bedrooms: 3
Bathrooms: 2
Sq. Feet: 1,450
Lot Size: 0.15 Acres
Year Built: 1976
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Mobile Home on its own lot with mature shade trees. This home has both a living room & a family room. You will enjoy the large dining room, off the......
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ID: 13-144242
Bedrooms: 1
Bathrooms: 1
Sq. Feet: 669
Year Built: 1981
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The perfect 1st home, Winter Getaway or investment property in popular Sports Village w/amazing amenities of pool, tennis & more. Use full time, part time or......
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ID: 13-146607
Bedrooms: 3
Bathrooms: 2
Sq. Feet: 2,129
Lot Size: 0.32 Acres
Year Built: 2005
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Open floor plan, large lot & courtyard. Granite, knotty alder cabinets. Large Master w/ a huge W/In closet. This home is sold AS-IS with NO Representations......
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ID: 13-146241
Bedrooms: 3
Bathrooms: 2
Sq. Feet: 1,706
Lot Size: 0.02 Acres
Year Built: 1985
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Lots of Space for the money. Large Master Suite with a Deck. Enclosed back yard with an Attached Single Car Garage....
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ID: 13-145999
Bedrooms: 3
Bathrooms: 2
Sq. Feet: 1,114
Lot Size: 0.05 Acres
Year Built: 1996
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While we wouldn?t SUGGEST eating off the floor, you probably could in this stunningly clean property in quiet and picturesque Padre Lakes of Ivins. This......
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ID: 13-146632
Bedrooms: 3
Bathrooms: 1.5
Sq. Feet: 1,806
Lot Size: 0.36 Acres
Year Built: 1946
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Brick 2-story home with LOTS of potential. RV Parking, Large Fenced backyard. Interior needs TLC. Sold in ''AS-IS'' condition. Pre-qual letter required with......
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ID: 13-144759
Bedrooms: 8
Bathrooms: 2
Sq. Feet: 3,668
Lot Size: 0.20 Acres
Year Built: 1976
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INCREDIBLE opportunity in the heart of vibrant downtown St. George. This property has full COMMERCIAL zoning but can be used as a residence. Proximity to......
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ID: 13-146235
Bedrooms: 4
Bathrooms: 2.5
Sq. Feet: 2,522
Lot Size: 0.29 Acres
Year Built: 2000
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This property is now under auction terms. This property is subject to a 5% buyer's premium pursuant to the Auction Terms & Conditions (minimums may apply).......
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ID: 13-146812
Bedrooms: 4
Bathrooms: 2
Sq. Feet: 2,209
Lot Size: 0.23 Acres
Year Built: 2005
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This home will literally evaporate before your eyes - JUMP ON IT! Custom built by original owners, we just installed BRAND NEW appliances, touched up paint,......
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ID: 13-146274
Bedrooms: 3
Bathrooms: 2
Sq. Feet: 2,248
Lot Size: 0.09 Acres
Year Built: 2005
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Check out the mountain and city views from this great home!! 3 car garage. Home sold as is. Prequalification required on all financed offers. Cash......
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ID: 13-146110
Bedrooms: 5
Bathrooms: 3
Sq. Feet: 2,300
Lot Size: 5.00 Acres
Year Built: 2005
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Gentlemans ranch. 2 story home with detached casita. Wrap around porch, corral, Barn, workshop. Much more. The Grantee(s)or purchaser(s) of the property may......
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ID: 13-146684
Bedrooms: 3
Bathrooms: 2
Sq. Feet: 1,942
Lot Size: 0.24 Acres
Year Built: 1999
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Your Castle on a Hill?Panoramic Views Of the Entire Hurricane Valley. Recently Remodeled Interior. This Home Shows like a Model. Open Floor Plan With French......
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ID: 13-146408
Bedrooms: 4
Bathrooms: 2
Sq. Feet: 2,350
Lot Size: 0.25 Acres
Year Built: 2006
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Great Corner Lot across from New School. Side loading Garage. 4th Bdrm can be a Casita w/ Private Entry. Many Upgrades, Hidden Pantry. This property is......
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ID: 13-146297
Bedrooms: 3
Bathrooms: 2
Sq. Feet: 2,006
Lot Size: 0.31 Acres
Year Built: 2006
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Very nice home with upgrades including wood floor and granite counters. Oversized garage and a large unfinished rear yard make this an extremely desirable......
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ID: 12-142761
Bedrooms: 3
Bathrooms: 2.5
Sq. Feet: 2,492
Lot Size: 0.41 Acres
Year Built: 1996
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Not far from the river, near Indian Oaks subdivision in Washington.This home features an in-ground swimming pool,tile throughout,solid surface countertops,......
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ID: 13-144415
Bedrooms: 5
Bathrooms: 4
Sq. Feet: 4,642
Lot Size: 1.10 Acres
Year Built: 1997
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SO MUCH HOME, SO MUCH LAND...for SO LITTLE $$!! The opportunity you've been waiting for to get that big home and acreage for your horses has finally arrived......
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ID: 13-143788
Bedrooms: 5
Bathrooms: 3
Sq. Feet: 3,784
Lot Size: 4.42 Acres
Year Built: 2005
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Gentlemans Ranch. Spacious home with 3 car attached garage. Views of the mountains. Walkout basement, unfinished. All financed offers must have a......
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ID: 13-146526
Bedrooms: 4
Bathrooms: 3
Sq. Feet: 2,564
Lot Size: 0.23 Acres
Year Built: 2006
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Beautiful custom home in Serenity Hills. Nice upgrades throughout. Functional and spacious floor plan. HOME TO BE SOLD ''AS-IS, WHERE IS''...
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ID: 13-145884
Bedrooms: 3
Bathrooms: 2.5
Sq. Feet: 3,282
Lot Size: 0.35 Acres
Year Built: 2004
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Located on a corner lot in the spectacular Sunbrook Golf Course Community, this Woodlands home has a spacious open floor plan of over 3200sf and boasts 3......
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ID: 12-139863
Bedrooms: 3
Bathrooms: 2
Sq. Feet: 2,241
Lot Size: 591.00 Acres
Year Built: 2007
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Upgraded manufactured home and large shop. Includes irrigation water and water rights. Upgraded stainless steel appliances with island in kitchen. Neutral......
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