# Tell me about REO properties **URL:** \ **Category:** In My Humble Opinion\ **Created:** [April 4, 2013, 1:02pm UTC](https://boards.straightdope.com/t/tell-me-about-reo-properties/654819 "2013-04-04T13:02:46Z")\ **Posts on this page:** 7\ **Page:** 1
**Author:** ![Sahirrnee](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/sahirrnee/32/13937_2.png) [@Sahirrnee](https://boards.straightdope.com/u/Sahirrnee)\ **Post date:** [April 4, 2013, 1:02pm UTC](https://boards.straightdope.com/t/tell-me-about-reo-properties/654819/1 "2013-04-04T13:02:46Z")
I’m looking to buy a house. How complicated is it to buy a REO, do I need an agent or can I just make an offer directly to the bank? What are the up sides and down sides? ---
**Author:** ![yanceylebeef](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/yanceylebeef/32/12290_2.png) [@yanceylebeef](https://boards.straightdope.com/u/yanceylebeef)\ **Post date:** [April 4, 2013, 1:58pm UTC](https://boards.straightdope.com/t/tell-me-about-reo-properties/654819/2 "2013-04-04T13:58:19Z")
I know their Speedwagons were pretty popular in the 80s. ---
**Author:** ![JohnT](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/johnt/32/15048_2.png) [@JohnT](https://boards.straightdope.com/u/JohnT)\ **Post date:** [April 4, 2013, 2:15pm UTC](https://boards.straightdope.com/t/tell-me-about-reo-properties/654819/3 "2013-04-04T14:15:17Z")
> [@yanceylebeef](#): > > I know their Speedwagons were pretty popular in the 80s. Yeah, I had one actually. I took it on the run and wanted to keep on lovin’ it, but couldn’t fight the feeling that it was time for me to fly, so I sold the damn thing. Plus the mileage sucked. ---
**Author:** ![Sahirrnee](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/sahirrnee/32/13937_2.png) [@Sahirrnee](https://boards.straightdope.com/u/Sahirrnee)\ **Post date:** [April 4, 2013, 2:40pm UTC](https://boards.straightdope.com/t/tell-me-about-reo-properties/654819/4 "2013-04-04T14:40:18Z")
Well! When I win the lottery I hope you two won’t be expecting to receive 2 years salary! ---
**Author:** ![Kimballkid](https://avatars.discourse-cdn.com/v4/letter/k/b5a626/32.png) [@Kimballkid](https://boards.straightdope.com/u/Kimballkid)\ **Post date:** [April 4, 2013, 8:41pm UTC](https://boards.straightdope.com/t/tell-me-about-reo-properties/654819/5 "2013-04-04T20:41:31Z")
The place my dad worked as a kid actually had an REO Speedwagon, but they had to junk it when they could no longer get parts for it at reasonable prices. As a matter of fact, it looked a lot like the picture posted by Bruce Ohnstad on [this page](http://forums.aths.org/PrintTopic95012.aspx) except it had a red dump box on it. That page will ask you if you want to print for some odd reason. I think the one they had was a 1948 or 1949. ---
**Author:** ![ReticulatingSplines](https://avatars.discourse-cdn.com/v4/letter/r/e274bd/32.png) [@ReticulatingSplines](https://boards.straightdope.com/u/ReticulatingSplines)\ **Post date:** [April 4, 2013, 8:55pm UTC](https://boards.straightdope.com/t/tell-me-about-reo-properties/654819/6 "2013-04-04T20:55:03Z")
It’s not for the faint of heart. In fact, I can’t think of that many advantages at all. Feverish investor demand for REO means you can’t make lowball offers anymore. ---
**Author:** ![california\_jobcase](https://avatars.discourse-cdn.com/v4/letter/c/9d8465/32.png) [@california\_jobcase](https://boards.straightdope.com/u/california_jobcase)\ **Post date:** [April 4, 2013, 10:38pm UTC](https://boards.straightdope.com/t/tell-me-about-reo-properties/654819/7 "2013-04-04T22:38:15Z")
Thread highjack trivia- REO was the second vehicle company started by Ransom E. Olds after Oldsmobile got bought out by General Motors.