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Good Faith

Good Faith when used in association with the sale of real estate indicates that the seller has made due diligence to disclose any past history, faults, defects or foreseeable problems that a buyer may have with the purchase. The Business Dictionary.com's definition of good faith is; Effort made, information given, or transaction done,...

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REO Properties
REO properties are properties that the bank or lender has acquired as a result of the non-sale of the property at the conclusion of the foreclosure process. REO is an acronym which stands for Real Estate Owned, in this case by the financial institution.

Lenders generally offer REO properties for sale on an “AS IS” basis, and no warranties on the property are expressed or implied...
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