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Real Estate-Owned (REO) properties are distressed homes acquired by lenders after failed auctions. Sold below marketvalue, they often require significant repairs. The property may also have legal issues, like title problems or unpaid liens, which can affect its value.
I always thought the accused could face their accuser in a court of law in America. Next month’s newsletter will have a lengthy article on the issues of the propertyinspector. I wonder how well the GSE AI works on rural appraisals, “one of a kind” properties, no permits, Highest and Best Use issues, and many more.
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