| If you are a home buyer looking to land a great deal | | | | What is a good offer and what numbers or price |
| on a REO or foreclosure you have been dealing with | | | | should you offer on the REO or foreclosed property. |
| headache after headache while trying to find the | | | | This all depends on recent sales if there are recent |
| perfect deal on your next home or property. Buying a | | | | sales to use. Condition of the property is always |
| Foresclosure is like asking the hottest woman out on a | | | | something to look at and something to explain to the |
| date knowing that you probably ever get a response | | | | bank why your offer might be lower than expected. |
| from her. With so many banks and lenders short | | | | You should always have a solid explanation when |
| handed trying to view every offer that is sent to them | | | | submitting a offer to a bank why your offering a |
| you can expect a long delay before having a chance | | | | particular price, explain the over condition, sales nearby |
| of getting any type of response. | | | | in other communities or anything that will convince the |
| Some Of The Common Problems .. | | | | bank to be reasonable when looking over the offer |
| First you have the real estate agent who has listed the | | | | you are submitting for the REO or foreclosure. |
| REO or Foreclosure. This agent which their are a | | | | Be patient and Expect This to Take Longer Than |
| handful of them out there will never return phone calls | | | | Expected. |
| to the other buyers agents trying to show the | | | | If you are a Buyer who is in the market to Buy one of |
| property. Second you have a agent who neglects to | | | | the many Foreclosed homes or properties you need |
| tell you that the property already has multiple offers on | | | | to be aware that this is a long process and you need |
| the property ( which Your Agent Should Have | | | | to be patient and realistic when putting a offer in on |
| Warned You in Advance to Expect This scenario ) | | | | the Property because the banks are only going to |
| and they allow you to submit a offer good and well | | | | take the highest and best offer but at the same time |
| knowing that they already have a accepted offer | | | | not always the Highest Offer will win due to financing |
| even though the listing agent forgot to tell you that | | | | options or other criteria that the Bank may not want to |
| when speaking to them on the phone. Third, You have | | | | see on the offer but they neglected to inform anyone |
| the honest agent who is eager to sell their reo listing | | | | including the Agents Representing you in purchasing |
| but they have no clue what they are doing. They do | | | | the home and the Listing agent who is not returning the |
| not know how to submit the paperwork to the bank | | | | phone calls to you agent. |
| representative or person for the bank or the lender | | | | I know of Buyers who it took them over 9 months for |
| dealing with the REO or Foreclosed property. This is | | | | them to finally get a offer to go through on a home |
| going to make getting this deal to go through very | | | | they liked and they honestly were fed up with the |
| tough. | | | | process and really just wanted to forget about the |
| Submitting a good offer? | | | | whole home buying thing, honestly I do not blame them. |