Why Buy An REO?

An REO is real estate owned by the bank, and many investors consider an REO property to be money just waiting to happen. An REO is different from a foreclosure property in that the bank has already tried to sell it at a foreclosure auction and has had no luck getting bids.
Comments on article "Why Buy An REO?"
Name Views and CommentsDate
BJ how long to wait for responce from bank 2/23/2008
Jamel In todays market how much can be expected to get off REO properties? What should be a good offer to start with on properties depending on the time they've been on the market? 2/23/2008
armando Thank u great inf 2/4/2008
Amy Interesting arcticle but in my area I am not seeing banks selling REO's cheap. I am a real estate broker/investor. We've submitted offer after offer for REO property and the banks are not even countering. Our offers are 70% ARV minus repairs. They just reject the offer stating that if we want to come in at the comps/retail then they will take us more seriously. We offer all cash, close in 10 days with no contingencies. Coming in at retail in a declining market and with properites that typically need repair work, doesn't make sense. Hopefully banks will be willing to work with serious investors as their properties sit on the market for many months.
 9/6/2007
ramona I think that the information on your site was very informative

thank you

Ramonamadd		 9/3/2007
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