Just put a REO under contract

[Sharad M.]

Hello all,

I had put an offer on an REO 10 days ago and I just got a call from the listing agent that my offer has been accepted. I looked over the purchase agreement and it states that the deed will be transferred via a Special Warranty Deed. From what I understand, SWD are standard when purchasing a REO.

This will be my first REO purchase, my previous properties have been Non-REOs. So what items do I need to be careful about? The property is a 4-plex and I will be holding it as a rental.

Appreciate all the replies.