OfflineHello Fam,
I have read some of the forum threads and I cant seem to get the exact answer I am looking for so excuse me if this is a repeat.
First off, i am new to the Northern Colorado area and i am trying to find the best or easiest way to find REOs.
Should I got thru a broker, an REO agent??
I understand that I will probably have to present my offer the REO agent if there has been one hired from the servicer.
Another question, have any of you out there had a any luck submitting REO offers with "and or assignee" so I can assign the contract if offer is accepted.
I also understand that I may need a proof of funds for these offers but is there anything else i need to know.
I want to start putting a lot of offers on REO properties.
Thanks Fam
Finding REOs, presenting offers, etc????
Posted on: Tue, 01/18/2011 - 21:29
Finding REOs, presenting offers, etc????
__________________
-
- by sredman
- Login to post comments
If a lender is involved in the transaction (short sale or REO) the lender will not work with an assignment clause. Instead, we suggest using a bird-dog or double close strategy when dealing with property controlled by a bank. There is a ton of info on these 2 techniques on this site, so I would encourage you to check them out.
If you would like the chance to work with me or one of my fellow real estate investor coaches and our advanced training programs, give us a call anytime to see if Dean's Real Estate Success Academy and our customized curriculum is a fit for you. Call us at 1-877-219-1474 ext. 125
I have found that even if you go through the Listing Agent for REO's unless they have an agreement with the bank allowing them to bring the buyer and double their commission which is rare bc most Listing agents for the banks do not deal with buyers so they actually pass you off to another associate of theirs. I would really just pick up one realtor and stick with him or her for putting in all of your offers... I sent you a PM on your other issue.
Matt Behrens
FR Properties LLC
www.frproperties.net
"Our Priority... You and Your Family!"
Journal: http://www.deangraziosi.com/real-estate-forums/investing-journals/67147/...
F.E.A.R- False. Evidence. Apprearing. Real.
Talk IS Cheap!
check out: http://www.totalviewrealestate.com/findit.php
Dean's provided a TON of great resources for us to use. Just scroll down the page and below the videos.
Will keep you busy for a few - lol! The Bank REO sites will show you the listing agent. Sometimes I have found it is beneficial to go straight to the listing agent to submit. And/Or If you have already found an agent, of course will be alot less effort (time) on your part to have one agent submit all offers.
btw: don't overlook the videos they are stacked with info also!
Best wishes!