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Buying REOs is much easier than short sales. Typically,the transaction takes as long as a standard sale (30-45days). The banks usually respond in a week or so, but again, this varies. The main difference between REOs and standard sales is that one buys the property - as is-. The banks do not want to make any repairs. If you let me know which area you are considering buying in I can send some listings to you and explain the process more fully. Thank you. Katherine
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