OfflineI just got thru talking to this new realtor that I am about to work with. He said that an reo bank would never accept a offer below 10% of the appraised price. Is this true?
Pone
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I just got thru talking to this new realtor that I am about to work with. He said that an reo bank would never accept a offer below 10% of the appraised price. Is this true?
Pone
This is not true at all. Take a look at the sold compareables and they will show you that he is wrong.
I would move on to the next realtor:)
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Thanks for a quick response and giving me the info I needed. I'm going to take your advice and try and work with a new realtor. I have one in mind thanks again for a quick reply.
Pone
Ask if they have worked with investors. Are they willing to put in many low offers?
Banks will take less than 10% off appraisal price, that's ridiculous An REO is usually even listed for less than that.
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Yeah, I was thinking the same thing. I already have one lined up and if not hopefully Bill Orafferty can help me.