If the property is already bank-owned, do you make an offer to the bank the same way you would with a seller? I heard that if a property is already bank-owned, you can make outrageous low-ball offers on the property and that some banks would accept next to nothing to unload a foreclosed home. Is there any truth to this? or should i make the offer i would if I were dealing with the original seller?
LEARN WHAT ALL BANKS SELLING REOs DON”T WANT YOU TO KNOW! What if you bought an REO that you found out later you really don’t own? Lets think ahead folks and come together to stop the REO fraud from circulating.
Hi! I was looking at a neighboring property a few days ago and I found out that it was a bank reo. After having presented the concept of seller financing to the Realtor, he seemed more then willing to try to push for this method of finance – My question is how exactly does the agent get payed when using this method? Could anything give me an example? Also are banks more willing to carry paper on reo these days? how common is that? Thanks
Is it possible for the government to buy all foreclosure homes and resell them to the owners who are at risk with a small interest rate? They would buy all homes in foreclosure up to a specific month, after confronting that task they would force banks, brokers and loan officers to fix the loop holes and the issues thats cause the crisis in the first place…I think they should also enforce a new home owner class where own owners would learn to manage their funds, what they should avoid etc.
I have heard that some banks for willing to buy you out of your home if you will buy one of their foreclosure’s. Does anyone know if there is truth to this?
I am about to get a good settlement and want to invest in this foreclosure homes. I heard u can go and buy some at ur local banks, but can i sell it the same month to a investor for double the amount? Some investors don’t even look at the house, they just give a price based on the year and how much it may be in the market.
