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BANK OWNED (REO) BUYING TIPS!

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Uploaded by on Aug 14, 2008

Things you need to know, before, you make offers on bank owned properties.

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Education

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Uploader Comments (3fredeckert3)

  • Submit your offer. It is a buyer's market.

  • You are brilliant!!! I thank you very much!!!

    Kindest Regards,

    Social Scientist Tyler Lord Hamilton,

    CIC, AA Sociology, BS Criminal Justice, BA Sociology, MA Political Science/Ph.D. (forth-coming)

  • @777Thinking ,

    Thank you very much for the kind words. Have a fantastic year. Fred Eckert

  • Great info

  • ourbusinessplan,

    Thank you for the feedback and I am glad it was helpful.  Have a superb weekend.

  • Great information! I'm a veteran trying to put an offer with a VA loan in So. FL, I have heard the VA has many restrictions specially with short sales/foreclosures... is this true? how does it differ besides the no PMI, no down payment? Thank you in advance!!!

  • @gigio05 ,

    I would contact the Regional VA office in your area. There should be a housing counselor to advise you. Many Lenders and Realtors also know the VA procedures. You can also call Ken Bates, a friend and VA specialist at 619.422.5900

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All Comments (15)

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  • I think you guys need to read this book "REO BOOM' it has over 400 pages on the entire REO process. Learn the secrets on reo's!!!

  • LISTEN theres a new law from the supreme court stating all the reo is still under the former owner, not the bank nor the buyer due to many problems. thats if the former owner decides to sue. right now the supreme court is siding with the home owners due illegal trasactions unable to provide original proof of ownership. so all of you future reo buyers. YOU DO NOT own the house although you have already bought, again thats only if the former owner is in pusuit in court

  • fred i 'am very interested in a property in fl for my family the realtor said cash only for this reo would it posible to summit a lease option or would the realtor throw it away ?

  • @raybonent where do you buy property for 2500$ a door? Detroit?

  • Thank you for your videos. I have buyers but I don't know how to get a "proof of funds". I am a buyers agent and I have over 10 buyers and an attorney but the bulk reo company's need a POF. How do I show this so I can get these homes at $2500 per door? thank you

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