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Bank Owned Homes & YOU!

Many buyers today think that the bank owned home is different than other listings. That is true to some aspects but not the most important one. As a buyer you deserve to have your own agent represent your needs in the transaction. Bank owned homes are no different. You do not have to use the listing agent, the listing agent is working for the bank and not you.

There are a lot of factors you as a buyer should take into consideration when buying a bank owned home. Make sure you are represented and have your own agent. Because of the misnuderstanding from many buyers - I have become a "Bank Owned Buyer's Represnentive."

Posted by Central Oregon Real Estate | Broker Thesa Chambers, Licensed in Oregon on 12/24/2008 01:00 PM

Comments (12)

Bank Owned Homes for Sale MN in the Home Buying Channel

Originally posted at: Central Oregon Real Estate Info: Bank Owned Homes & YOU!

This post has been included in Oregon Information Deschutes County, OR Information

12 Comments on Bank Owned Homes & YOU!

DEC

Thesa, So have I!!! I have been representing many home buyers in Ventura County on their purchase of a Bank Owned Home. Best of luck to you.

Don't get us started on bank owned properties. Our buyer clients are still waiting on the deed from the bank of the foreclosure that they bought. It has been 13 days and we are still waiting. They will not be in before Christmas.

Scott and I wish you and your loved ones a wonderful holiday season with all of the joy and love that it brings.

Thesa: I love that advertisment... SO SO true!

Merry Christmas my friend.

Thesa, I just came by to say Merry Christmas. It sounds like the time to buy a home in LaPine and have your as their bank owned buyer's representative!! I just got the okay on one today for a buyer.

Hi Thesa,

Good info, it's always best to work with someone who knows what the heck they're doing. I know you're the one for La Pine, OR. I wouldn't hesitate one minute in referring you!

BTW, you header of best buying opportunity now, I agree. I just closed today myself on a place and got a fixed 30 year loan under 5%. I'm one happy camper right now!

Thesa... I am pissed... I had a closing that took place on the 19th of December. I took the loan from another loan officer on the 2nd of December... the commitment date was on the 12th and all parties involved said it would never happened.. wow, they had their commitment on the 12th, at 10 am... They even said that I would never make settlement on the 19th, not on a FHA loan. Poof, closing docs where there, the day before the closing date.... but wait, it still hasn't closed. This was a bank owned property, but the bank never had the dead prepared nor owned it 100%. How backwards was this one..... Happy Holidays.. hope Mike is well..

jeff belonger

DEC

Thesa,

Although the listing agent represents the bank .....here in FL we have to be fair and impartial.....I always try to help both sides if I can...after all...our job is to close the transaction as smooth as possible and try to make everyone happy.

Wishing you and your family a Happy Holidays.

DEC

Hi Thesa, what a wonderful niche market - there are many ins and outs of buying a bank-owned property- Good for you! The buyers who find you to work with them, I'm sure, will be in good hands.

Best wished for 2009!

Thesa - As always, excellent advice. A buyer really needs someone in their corner, especially on a bank owned property. Merry Christmas.

DEC

Thesa...as always your rockin'! I have been working with some Buyer's who are interested in bank owned property, and I have to say that things have been going pretty smoothly. However, its like you said, they need someone to represent them and make sure things run smoothly. Best wishes for 2009!

DEC

Good for you and even better for your clients! Agents need to be well educated in what's going on "today" and in "their" market. Having a Real Estate License means nothing unless the agent has the skill set, tools, knowledge and experience to really help their clients. This is going to be great added value to your business. Congrats to your success!

JAN

Hey Thesa, "catchy" title. I think we all need to become experts at everything....;-)

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