When a foreclosure ends without a buyer, title reverts to the lender and the property becomes REO, real estate owned. The bank is a lender, not a landlord, so every month it carries the property costs money. That is where a discount comes from, and why investors source REO inventory.
This guide is honest about what an REO list is and is not, because it is a different animal from owner-stage lists.
What REO is, and what the list is for
An REO list identifies properties where title has reverted to the lender after foreclosure, plus the property profile and the record holder. It is an inventory-sourcing tool: you use it to find discounted properties to flip or hold, not to cold-call a homeowner. On a bank-owned property there is no homeowner to skip-trace, because the bank holds title. We will not pretend otherwise.
Why banks price REO to move
Lenders do not want to own real estate. Carrying costs, taxes, insurance and capital rules all push them to dispose, and the longer an REO sits the more room there is on price. Foreclosure also typically wipes junior liens, so REO often comes with cleaner title than a pre-foreclosure deal where you inherit the mess.
Where to find REO inventory
REO data is usually sold behind a monthly subscription. The pay-as-you-go alternative is to pull the bank-owned inventory in your market by county or ZIP, with the property profile and record holder, and pay only for the rows you pull. You then pursue the deal through the listing or the disposition channel.
Source REO inventory pay-per-row, no subscription. Skip Trace Depot delivers bank-owned, post-foreclosure properties with the profile and record holder, from $0.22 a row with a $0.50 minimum. See a live count before you pay. Build an REO list →
How to work an REO list
Use it to find the right discounted stock to flip or hold, to match bank-owned supply to your cash-buyer list, and to track REO volume and time on market in a farm area. If you want owner contact to call directly, that is the pre-foreclosure or auction list instead, where a person still holds title.
Frequently asked questions
Where can I buy REO or bank-owned property lists?
Skip Trace Depot sells REO lists pay-as-you-go: filter to properties where title reverted to the lender after foreclosure, see the live count, and pay $0.22 a row with a $0.50 minimum and no subscription. Each record carries the property profile, valuation and record holder.
Do REO records include a homeowner phone number?
No, and we will not pretend otherwise. On a bank-owned property the lender holds title, so there is no homeowner to skip-trace. REO is an inventory-sourcing product: you get the property and the record holder, then pursue the deal through the listing.
What can I do with an REO list?
Source discounted inventory to flip or hold, match bank-owned supply to your cash-buyer list, and track REO volume in a farm area. It is for finding the right properties, not cold-calling a homeowner.
How is REO different from pre-foreclosure or auction leads?
Pre-foreclosure and auction are owner-stage products where a person still holds title and can sell to you directly. REO is post-foreclosure: the bank already owns it. For owner contact, use the pre-foreclosure or auction list.
How much do REO leads cost?
$0.22 per delivered row pay-as-you-go, $0.50 minimum, no subscription. Pull 100 properties in your county for a test and pay twenty-two dollars.