Banks are Hiring Builders to Finish Their REO’s

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More builders are being hired by banks and lenders to complete their real estate owned (REO) properties and get them ready to sell. This new market is a welcome source of business for builders who have managed to stay afloat over the last several years, but are struggling to find business.

Most banks are unaware of the need to provide a third-party express limited warranty to their buyers on foreclosed homes. By living in the implied warranty world, they ...

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