Friday, August 3, 2007

REO Opportunity


My last three sales have been Bank Owned and my Buyers have been extremely happy. Working with a Bank is different. They have long addendums. Banks don't want to sign a lot of forms, even the ones that are required and they use escrow companies that are not very connected to the Buyers and forthcoming with information. But the results can be exciting with buyers finding that house to make their home. Of course, finding REOs usually means all the appliances have been removed and sometimes light fixtures and switches have also been removed. But if the Buyers like the location and price, then a little fix up works for them. REOs are a great way to get a buyer into a property they may not have been able to afford otherwise. This is a great opportunity.