REO under contract

What does it mean when it states on an REO website that the property is "under contract".....any hope in still making an offer at that point?
Thanks for your help!

Comments(2)

  • 11th June, 2003

    That means that a purchase price for that Real Estate Owned Property has been negotiated. Chances of getting in on this deal are probably slim to none, because by this time a contract has already been drawn and signed.

  • 11th June, 2003

    BUT it never hurts to try!

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