OfflineI have tried to put in bids today on foreclosures and the realtors are saying that even if you put in an offer and get accepted if you are not able to close with your end buyer they will charge you a $100 dollars a day until you pay and they can sue you for your assets. Also with the bank they said they want $500 for escrow deposit and they don't take copies of checks. Anybody please help me because I think I am stuck.
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"Work hard Play Harder"
I just finished listening to an REI websiminar and there's a guy who assigned 100 REO's last year. He did like 15 in one month back in FEB.
He says the best way to do REO's is using a double close.
I will post on this later as he gave tips on how to get your offer accepted. After I go through my notes, I will start a new thread on what I learned.
Jason S.
San Diego, CA.
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