| There many opportunities to purchase foreclosed | | | | condition and amenities comparable among the |
| properties thanks to the declining real estate market | | | | neighboring properties? Find out if there are any |
| and troubled economy. If you have some money and | | | | pending sales in the area, also. This will be a good way |
| are interested in buying a Citimortgage reo property, | | | | to judge the sale value of the property. |
| then there are some facts you should be aware of | | | | Another good tip when planning on purchasing a |
| before making any offers. If you find an REO that you | | | | Citimortgage reo is to analyze the listing agent's REO |
| like, you should check the property history. By asking | | | | sales history for the last few months. Doing this will |
| your buyer's agent to get the bank's purchase price on | | | | prepare you for how much you are most likely going |
| the Trustee's or Sheriff's Deed. It should be written | | | | to have to offer over list price to have a chance to |
| somewhere in the document. You can obtain the Deed | | | | win the bid on the property. If he or she traditionally |
| from the title company or taxing rolls. Compare that | | | | accepts 4% over list price, then you may want to |
| price with the one that is being asked for by the bank. | | | | offer a little more than that. Also, if you are the only |
| If you look at the original loan balance and the | | | | one interested in the property, then you can most likely |
| foreclosure sale price being asked, a good price offer | | | | offer less than the list price. Remember, they want to |
| will fall between those reo prices. That will hold true of | | | | get it off of their books, so they won't be as picky if |
| the home is under-priced. | | | | someone is biting. |
| Doing research of the area in which the property is | | | | Finally, if you have a letter that states you are |
| located is another important point to be aware. Look at | | | | pre-approved for a specific amount of money for the |
| the last three months of comparable sales for the | | | | property from the lender who owns the property, it |
| neighborhood to determine the worth of the | | | | makes you offer credible and the Citimortgage reo |
| Citimortgage reo. Compare only the homes that are | | | | agent will know that you will be able to back up your |
| similar to the property you are interested. For example, | | | | bid to purchase the property. |
| is the square footage, number of rooms, baths, | | | | |