foreclosure: "Foreclosures 101," Central Oregon Coast, how to lead the pack! - 08/20/19 01:59 PM
Foreclosure homes are often a "cash only" sale, however, I have seen them sell with a construction loan to cover cost of purchase, + expected repairs. Repairs must be carefully itemized, lender will require a completed list.
If an REO property is priced to sell it may receive multiple cash offers, which can close much more quickly than a construction loan. Many foreclosures need repairs, poor condition of house not ideal for buyers who require a bank loan. House needs to be in better condition to get through appraisal and underwriting process.
Cash buyers usually win the foreclosure bids, the competition … (2 comments)

 
Barbara Le Pine, Your agent for the Central Oregon Coast! (Advantage Real Estate, serving Lincoln County) Rainmaker large

Barbara Le Pine

Your agent for the Central Oregon Coast!

Newport, OR

More about me…

Advantage Real Estate, serving Lincoln County

Address: 205 E. Olive Street, Newport, OR, 97365

Office: (541) 265-2200

Mobile: (541) 270-6758

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A mix of thoughts and ideas from a full time Real Estate Broker who lives in and works in the entire Lincoln County Area, serving Lincoln City, Otis, Gleneden Beach, Depoe Bay, Otter Rock, Beverly Beach, Agate Beach, Newport, Yaquina Bay, Toledo, South Beach, Seal Rock, Waldport, Alsea, Tidewater, and Yachats.


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