I feel I am real close to getting a customer of mine a real steal on a REO property.  The house has great potential.  It needs work but really managable for my customer.  The home is priced well and we are in negotiation on getting the price down more.

I am thinking, "please no other offers come in!!!"  Because if nothing else comes in I will have a happy customer!  Of course I have learned not to hold my breath on these.  They may take there time to see another offer.  They may want to move it and give us an answer today. 

Don't you love the waiting game on these?   Remember when you could meet a seller and their agent and get a deal put together in an hour or less?  Now most of the sales I have are buyers purchasing REO properties.  I find it takes over a week on average for one of these to come together.  I can only hold my breath about a minute...  come together please!!!

 

-30-

Chuck Carstensen is a Realtor with The Discovery Team at RE/MAX; helping buyers, sellers, and investors of residential real estate in Isanti, Anoka, Sherburne and Wright County.  He is a speaker and co-author in the best selling book series Wake Up...Live the Life You Love: Your Wake Up Moments (available soon). Carstensen is also a personal development mentor with Success University...where he helps people discover how to be more successful in business, life and health.

 

 
Posted by Chuck Carstensen on 05/15/2008 01:43 PM   Comments (3)   , ,  
Post is included in group: Realtors®
Post is included in group: RE/MAX Active Rain Bloggers
Post is included in group: Minnesota's Nice :)
Post is included in group: Elk River and Beyond!
Post is included in group: Moving to Minnesota

3 Comments on Don't Hold Your Breath When Making an REO Offer

REO's Short Sales,  they are all very nerve recking.  it's hard to negotiate with a bank and much easier to make a private seller make a decision.  I guess whoever can master both markets is the real producer.

05/15/2008 01:53 PM by Dennis Sanchez (Coldwell Banker Susani Realty)

GOOD POST..you need to bring in a good offer with not too much buyer assistance..also it helps if you get friendly with the listing agent...

05/15/2008 02:21 PM by Michael Shankman Selling Las Vegas 702-498-3383 (Liberty Realty )

I educate all my buyers that dealing with a bank owned property is its own BEAST. It's much harder than privately owned property. I try to set the expectation for my buyers early on, but it's still tough to sit and wait....and wait......and wait! And I've never had a REO close on time--every time it's the bank's fault to the postponement!

05/15/2008 02:22 PM by Bill Dowell Condo Assoc. Management in Worcester, MA (Worcester Property Management LLC)

Leave a response…

Name:
Notify me of new comments:
Comment:
What does the graphic say?
 
Real Estate Agent: Chuck Carstensen (Re/max Associates Plus inc)
Chuck Carstensen
Elk River, MN
More about me…
Re/max Associates Plus inc

Office Phone: (763) 635-7228
Cell Phone: (612) 290-3809
Email Me
My desire is to give people tips, suggestions and hints that can improve their business and life. My purpose is to help people discover the unstoppable power they have inside them!

Links

Tags (Tag Cloud)

Archives

RSS 2.0 Feed for this blog
ATOM 1.0 Feed for this blog

Find MN real estate agents and Elk River real estate here on ActiveRain.
Disclaimer: ActiveRain Corp. does not necessarily endorse the real estate agents, loan officers and brokers listed on this site. These real estate profiles, blogs and blog entries are provided here as a courtesy to our visitors to help them make an informed decision when buying or selling a house. ActiveRain Corp. takes no responsibility for the content in these profiles, that are written by the members of this community.
© 2007 ActiveRain Corp. All Rights Reserved