How to Buy a Bank-Owned Home

Poor guy.

This is a self-serving video which does have a basis in fact for most agents, The truth is that a few people have learned the system and know how to play it. These peole then are perceived as ones who makes the lenders' jobs easier, so they get calls on more deals. Buyers need to find CDPE certified agents who are trained to go through the process. Too many properties are being listed by agents claiming to be "specialists" and they do not even know who the lender is!

You arrogant, snide, b---ch. You are obviously one of the preffered agents who has (somehow worked? gag!) her way into the good graces of an asset manager or six. I know so many diligent good agents who work thier a-s off and get nowhere while things like you have an inside track and get everything through. Don't get on here acting like you're superior, you're an as-. Sorry for the cursing everyone but this is the blue robot in the flesh. All of us who are in lending know what she is. Sickening

This is the truth, I know this agent. He has made millions in the last year and a half. He is a machine processing cash only offers from a list of investors as long as the Rio Grande. I know another who has 1.2 billion in investor money (2 investors) with orders to buy hundreds of homes in bulk if possible. The listing prices are just plain ink. In fact in So.Cal they have dropped that rouge since there are no homes available to real people who really want a home. I am in a related business.

LOL bid 20000 over on 4 homes and they all sold cash to investors!

Buyers who think they can simply get their offer accepted by offering the full price listed on MLS is stuck in 2008. Sadly, many buyers think it's a buyer's market when the market is not in their favor at all! Work with a buyer's agent who is willing to work hard for you is definitely the key!

It is an absolute mess how these homes can be sold with no regard to ethics or the laws. Why on earth the banks dump 100s of listings on overworked agents who just stumbled upon them because they did some BPOs for them is beyond me. The irony is that us taxpayers bailed these banks out that are not diversifying and driving down prices and the tax base.

I'd start naming names and pointing fingers. But that would be a violation of my REALTOR Code of Ethics. Most short sales prices are being thrown out there just to see if they'd stick. I saw a property listed on the MLS for $1 and called the agent on it. He said that the price was only to spark interest.

Way too ttrue life. Scary and sad.

Sounds like the majority of REO properties in the greater Phoenix area. Yesterday I visited a listing on the first day and the line of prospective buyers with agent was in place when I arrived and there were others waiting as we exited. Then my buyer suggested he would be willing to make an offer at 20% under list!!!