REO's and FHA Loans - 01/15/10 03:53 AM
Lately, our area has seen less REO properties and short sales coming on the market; the ones that do usually need quite a bit of work.  As usual, the folks who are looking find these homes to be priced well; however, they soon come to the realization that the work and repairs needed will be too costly,  Many are using FHA loans which will require the buyer or seller (if you're lucky to get the bank to agree) to pay for the repairs.  "As Is" means exactly that, the bank is selling this property in the condition it is; you should be prepared then to … (0 comments)

 

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