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WebSep 5, 2013 · REO is an acronym for R eal E state O wned and is industry jargon for foreclosure property repossessed by banks or lenders. If a lender or bank is the highest bidder at a foreclosure auction — or if no third party bids at the auction — the property reverts back to the lender and becomes an REO. REOs are owned by banks. WebDiscover bank owned properties and browse opportunities in West Palm Beach, FL, including the transition from a bank owned property to auction. RealtyTrac can help you … ponderosa pet ranch swansboro nc
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