Has anyone had success in dealing with mortage bankers. if so what your secret… when trying to acquire lender owened properties…
I work wells fargo builder division. Inside of wells we have a reo division that handles reo sales for more the 30 different banks and institutions.
There aren’t too many secrets. It takes lots of offers to get a deal and it also helps by making strong offers (cash with quick close).
You can’t be afraid to write offers. They accept or reject. I write them allowing myself 3 business days to inspect and cash closing in 7 days. It usually gets their attention. Just don’t expect to have every offer accepted. Also, some offers they previously rejected may look better the longer a house sits.
I have personally had good experiences with buying REO’s. Marcus is right though, get ready to start submitting offers, check the property out first or have a clause in your offer that allows you a certain amount of time to inspect the property and don’t expect them to except every offer. In my dealings with the banks they have always been VERY fixed on the asking price unless the house has been on the market for awhile. Good luck.