SARASOTA REO REAL ESTATE CLOSINGS LAWYERS
In the real estate world, REO is an acronym for real estate owned, a term used to signify a property that has failed to sell at a foreclosure auction and is now owned by a lender, most likely a bank. In today’s climate, REO transactions have become more common place. The attorneys at Berlin Patten Ebling understand the significance and risk involved in REO transactions. In most instances the lenders will want to control the entire transaction and eliminate any post-closing liability.
Lenders are known to provide lengthy counter offers that essentially remove any liability, shorten the due diligence window, provide only insurable title (versus marketable title), and provide no warranties of title or otherwise. As a result, the attorneys at Berlin Patten Ebling pay special attention to the contractual terms, title requirements and exceptions, and closing/title agent communications. In most instances, we order a title commitment in advance of the contract.
We are committed to providing an exceptional customer experience. Our legal team helps you establish the key goals up front in order to create a custom strategy to achieve those objectives. We are available at every step of the process and answer questions in a timely manner in order to keep you informed of all progress in your case.
Contact us to schedule a free, no-obligation consultation in which we can answer your questions and recommend the best steps to take. We serve clients throughout Southwest Florida from offices in Sarasota, Venice and Lakewood Ranch.