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January 9, 2009
RELO
I keep seeing listings for "Corporate RELO" or "Corporate owned RELO" (or just RELO) properties but I can't find an explanation of what it means (and why there are so many listed right now?)
Comments
"relocation" also know as long term assigment
Posted by: bobjohn at January 9, 2009 2:06 PM
relocating -- employer bought home/apartment from an employee who is transferred and is selling. a nice perk
Posted by: BH76 at January 9, 2009 2:06 PM
And there are so many because employees cannot sell in a timely way and be made whole -- so employers are doing it to keep valuable employees.
Posted by: BH76 at January 9, 2009 2:07 PM
<-- Agent
Usually the broker meant to say "Corporate REO", not RELO.
REO means that the bank has foreclosed and now OWNS the house.
Corporate RELO would mean that the former owner has relocated and the sale is being handled by the relocation division of the employer.
BIG DIFFERENCE between the 2.
Posted by: howrealnyc at January 12, 2009 9:11 PM
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