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Author Topic: Zero Success with REOs  (Read 13563 times)

Offline CharlottePlayer

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Re:Zero Success with REOs
« Reply #15 on: July 10, 2006, 04:53:02 pm »
Whatever works for you dude.  Maybe you have a special lingo or something.

I will submit one of those like you say this week, to see how everything goes.
If you have a burning desire to enter the real estate industry go to Free Rea Estate Bird Dog Training.  Be sure to check your email after you sign up.

Offline Roger J

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Re:Zero Success with REOs
« Reply #16 on: July 10, 2006, 08:17:45 pm »
A POF letter is no big deal, guys.  I can get a POF for my dog if I need it.  And yes, most banks require them when presenting an offer.

As to the EMD, I now always put in my offers that EMD will be submitted upon acceptance.  Again, not a big deal, especially if you're working with an RE agent that has experience dealing with you (ie, you actually close the deals).  They can get the offer through and accepted.

Financing contingencies only become an issue with REO's when you are trying to go conventional.  Non-conforming is the box that you should be checking.  Remember, it's all cash at the closing table.  All the lender wants to know is that it'll happen fast.  Conventional loans aren't fast.

As to that, all of you are putting too much emphasis on cash or financing.  It's ALL CASH at the closing table.  You can say that you're buying for "cash" and get financing.  You can say that you need financing and buy with cash.  The seller isn't going to know, or care, when you're at the table.  All they are going to want is their money.

Raj
www.HickoryNCHomes.com Search for all Hickory NC Homes for Sale.

Offline OlympiaHomeBuyer

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Re:Zero Success with REOs
« Reply #17 on: July 11, 2006, 11:23:29 pm »
Hey REO,
What is the Wells Fargo/PAS website? I know the Ocwen one. What are some other common banks that will list REOs on their site? (please list sites) I am in Washington, I think I am well outside of most of your area, so feel free to share.
Thanks,
Ryan
Ryan Garrison
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360-259-4170

Offline blueboxer

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Re:Zero Success with REOs
« Reply #18 on: July 12, 2006, 06:23:41 am »
I have a free site that lists a lot of banks and there websites for REO. I will get it for you all in a sec.

Offline blueboxer

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Re:Zero Success with REOs
« Reply #19 on: July 12, 2006, 07:33:16 am »

Offline NoMoneyDown

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Re:Zero Success with REOs
« Reply #20 on: July 12, 2006, 08:07:17 am »
Good info, blueboxer - thanks for sharing!
Stephen
"Without Goliath, David would have never uncovered the giant within him." - Robert Kiyosaki, 'Retire young, Retire Rich'
"Whatever you think is real is your reality." - Robert Kiyosaki, 'Retire Young, Retire Rich'
"The difference between a goal and a dream

Offline OlympiaHomeBuyer

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Re:Zero Success with REOs
« Reply #21 on: July 12, 2006, 11:06:58 am »
That's awesome.  Thanks.
Ryan Garrison
[email protected]
360-259-4170

Offline REO

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Re:Zero Success with REOs
« Reply #22 on: July 12, 2006, 04:12:56 pm »

 




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