Jon, I apologize if I mispoke. The particular house involved in Will’s thread was not an REO. It was purchased from the legal owner via sub-to knowing the occupant was there and needed to be dealt with. However, he has purchased many reo’s that were occupied by the previous owners. The difference is, they were purchased pre MLS with the current occupancy known by both seller and buyer. I agree that banks will evict before listing an REO on the MLS. Sorry for the confusion.
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