Pre-Foreclosures in NE Ohio

smart2830 · April 12, 2006, 12:31am

Does anyone have experience with short sales on nice homes in NE Ohio?

I am finding that the only times banks are willing to do short sales with me is for really awful houses (my first short sale was for $750 on a $51K loan - the house was that bad).

I can’t seem to make it happen with the nicer homes ($150K ARV). Banks would rather foreclose and sell on the market.

Mdhaas1 · April 12, 2006, 4:43pm

I don’t believe that it is limited to NE Ohio. I have clients in other states that are experiencing the same thing.

mw111 · April 12, 2006, 5:35pm

I just purchased a nice REO in NE Ohio, so they are there.

smart2830 · April 13, 2006, 4:53pm

Was this a short sale or an REO?

I’m not having trouble finding REO’s – I’m having trouble finding banks that will negotiate with me on a short sale before they become REO’s.