Houses For Sale Network

REO agents need to submit an offer along with a buyer package that may include deposit and proof of funds to the bank. In an REO situation, your offer or counter-offer will possibly have to be reviewed and approved by several individuals and firms and even once an offer is accepted, the bank may insert wording like subject to corporate approval with 5 days. REO properties in poor condition will generally require an all cash offer and be sold as is. The banks will seek to limit their liability in these situations.