Interested in an REO-occupied property, but new to foreclosuresHi everyone:I'm interested in an REO-occupied property. The REO property is, hypothetically, selling for $200,000. Because this is my first foreclosure, I was hoping that someone can help me with questions.According to the description on Zillow, it says "cash only sale with no contingencies or inspections." I understand that I'm not entitled to inspect the REO property, but I'm a bit confused with respect to the "cash" and "contingencies" part of the description.In terms of "cash," does this mean that I need to have $200,000 in cash to purchase this REO property, or can I have, for example, $100,000 in cash and then take out a loan for the difference?What does it mean by no "contingencies"? Lastly, how do i bid on this REO property? I see on Zillow that the listing site is Hubzu, so does that mean I basically create an account on Hubzu and bid on the REO property?Thanks in advanceSeptember 25 2013 - US00YesReport a ProblemProblemSelect oneOffensive contentIrrelevant contentSpam (pure self-promotion)OtherDetailsYour emailPlease enter a valid email address.Submit CancelContent flaggedWe will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.We're sorry. This service is temporarily unavailable. Please come back later and try again.