OCWEN holds an REO in my town that isn’t listed anymore due to fire damage in the attic. Is there anyway I can purchase the property from them in it’s current condition, the Broker told me that they won’t sell it until they repair the damage, but if I’m a contractor and I offer them what they were asking minus the repair cost and closing, shouldn’t they take that deal?
What would you do?
Thanks
They should the olny prob. there is they just outsourced all there stuff to India so good luck with that. They are currently holding a ton of property and are ready to move on most of it.
It will depend alot on if it is a VA account or not. But, more than likely the answer is still NO, they won’t accept your offer. There could be a ton of reasons why, most of them internal. If its a VA account, the VA has specific criteria they must follow regarding list prices and acceptal offer prices. There is a lot of red tape behind the scenes.
The Ocwen REO side has always outsourced to India. The VA side is handled from Orlando. It has been that way for years. I have no clue what you are refering to about “holding a ton of property and ready to move on it”? All the big lending institutions hold a ton of property. But, I hope in some way you are exactly right. They are one of my accounts.
When was the last time you did a deal with Ocwen?
I have not talked to them sense Thursday!!
It is all in India now and they currently have a huge inventory!
I have been a Broker for them for several years. I handle both their VA assets and their non VA assets. Their reimbursement billing was also handled out of India. It was a huge mess. Real Trans has helped with these issues. Ocwen is not a fan favorite among REO agents. Non english speaking account reps make you pull your hair out.
That’s why I don’t understand your comment. I’ve always dealt with the India factor. Ocwen also has recently lost a couple executives to other REO companies. I feel its a matter of time before they loose the VA contract.
Are you a REO agent working with Ocwen?