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Interested in buying a Bank-Owned REO Foreclosure property? Learn insider tips, tricks, and techniques to land yourself great deal on one of these hot properties!
As the housing market in America heads towards its fifth year of decline, many have grown angry at the government’s relative inability to make any significant improvement in the market. Like with many hot-button topics, the public is divided on whether Uncle Sam should step up their efforts, or let things play out. In this [...]
Every day, people get ripped off when buying real estate in countless ways for innumerable reasons including lack of preparation, overzealousness, and/or all-around folly. Most buyers head into the process swearing that they won’t be the chumps, but somewhere along the way they get caught up in the momentum of the deal and stop asking [...]
In real estate transactions involving owner-occupants, each seller has a unique set of goals and a unique mindset with regards to the best way to get things done. This can make things tough on a buyer because they are limited in their understanding of what it is that is making the person on the other [...]
When it comes to selling houses, buying from a traditional seller is like playing poker, while buying from a bank selling a REO is like playing blackjack. In poker, one never knows what exactly their counterpart will do, while in blackjack, the dealer always plays their hand according to the rules of the house. This [...]
Real estate agents are facilitators. While some agents go above-and-beyond and act as trusted advisors, it is not as big a part of the job description as one would expect. More than anything, agents work to carry out the whims of their clients. They get paid whenever deals close, based on a percentage of the [...]
Let’s get a couple of things perfectly clear. While they may walk like a duck and quack like a duck, bank-owned foreclosure listings are not the same bird as fair-market listings or short sales. Getting a great deal on a REO requires a muscular purchase strategy, carried out by a qualified real estate professional. With [...]
There is a difference between a low sales price and a good value. The “market value” of residential real estate is usually determined by looking at recently sold “comparable” properties. It is, of course, very difficult for someone who was not the buyer or the seller of any of those comparable properties to know the [...]
You might say that bank-owned REO foreclosure listings are to traditional real estate listings like what ping pong is to tennis. The premise is basically the same, use the thing in your hand to hit the ball over the net. Yet if one doesn’t take the time to understand the rules and modify their approach [...]
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