About

Drakeley REO's was founded in July of 2016, by Owner Broker Robert Drakeley. To service the REO industry! We cater to asset managers and investors as well as guiding first time home buyers through the process of purchasing a bank owned home or REO. With 21 years of previous service in the Real Estate retail industry with retail giant Joyce S. Drakeley Real Estate in Woodbury CT, & in recent years as a Mortgage Loan Consultant, we are here to help, and service the public when it comes to purchasing or selling a bank owned asset.

Our History

This market is unique, and in many ways different than a normal real estate transaction. An REO is a property that has been returned to its investor after the former borrower has defaulted and has been officially foreclosed on their home. Turnaround times and offer negotiations and acceptance can require patience on the part of the buyer and more info on what to expect in these types of transactions can be downloaded from the side bar on the left.

REO's in many ways symbolize a rebirth or 2nd chance for the asset and for the new potential owner. Much like the mythological Phoenix, rising from the ashes to be reborn, these REO's are competing for the demand of today's most serious buyers.

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