I deal a lot with properties in foreclosure, however I have never represented the seller. Recently I was dealing with a property where the listing agent did nothing (NOTHING) (NOTHING!!!!) but put the property on the market. Everything else, including paying several bills, was done by myself and the attorney's paralegalist, who was out of state.
I just got an e-mail from her attorneys office asking me if I deal with REO property management. I know nothing about representing the seller on REO's. from what I have seen and heard, it is a headache. You are responsible for spending a lot of money on upfront costs waiting to get money back at the closing and sometimes your reimbursement chacks are sent late. Most of the agents that I have dealt with do nothing but complain so I have never really thought about it and I have always been on the buying end trying to beat the price down to by it for myself or my clients.
Ok, enough ranting, what i would like to know is
- Are they really as much headache as I hear?
- Is the money worht the headache?
- What all does it entail having to do?
If anyone has any knowledge expertise or guidance, I would greatly appreciate it.
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