REO
Business & Finance abbreviation · Real Estate & Mortgage
| Stands for | Real estate owned |
|---|---|
| Categories | Business & Finance |
REO stands for Real estate owned, a real estate & mortgage abbreviation.
Property that has reverted to a lender, usually a bank or government agency, after a foreclosure auction failed to sell it. REO homes are then marketed through agents, often as-is.
Example: The REO listing needs work, but the bank priced it below market.
Usage notes
Banks list REO properties on their own websites and through agents specializing in bank-owned sales. Foreclosure sales, short sales and REO sales are distinct stages of distressed property sales.
Related abbreviations
More real estate & mortgage abbreviations
- PSA – Purchase and sale agreement
- PSF – Per square foot
- PUD – Planned unit development
- QCD – Quitclaim deed
- QM – Qualified mortgage
- REIT – Real estate investment trust
- ROFO – Right of first offer
- ROFR – Right of first refusal
- RSF – Rentable square feet
- SFR – Single-family residence
- SNDA – Subordination, non-disturbance and attornment agreement
- STR – Short-term rental