buying foreclosures: Are the Banks receiving too much Bailout money? - 12/18/09 01:58 AM
What is going on with the banks?  I have recently seen this scenario play out twice in the last month.  We have a contract, present it to the bank for short sale approval.  Bank orders a BPO(Brokers Price Opinion) and cancells the short sale because of "Insufficient offer".  Bank forecloses and relists the house as an REO(foreclosure) for 25% less than what our buyer could have closed on it for 3months ago.  Huh?  Just so you can see it in real numbers.  I will give you an actual scenario.
Seller had a contract with a cash buyer for 1million dollars.  In this case … (5 comments)

buying foreclosures: Foreclosures - 10/07/09 03:08 AM
Buying a Foreclosure
Depending on who the seller is or what bank you are buying from, the process will be a little different every time.  It is important to know the seller's specific addendums to the contract very early into the transaction.  Every Bank is different on what needs to be done before, during and after the transaction closes. 
Some examples of what to look for will include making sure you have the seller's addendums and offer instructions in hand Before writing the offer.   During the transaction some banks will allow an option period to terminate and others will not, however, most … (1 comments)

 
Ben de Anda (RE/MAX Cross Country)

Ben de Anda

Corinth, TX

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RE/MAX Cross Country

Address: 1990 Justin Rd., Lewisville, TX, 75077

Office: (972) 317-9488

Mobile: (972) 342-5029

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