reo sales: Working with Reo's and foreclosures.
- 03/09/08 02:50 PM
Reo's or bank owned property is finally becoming more realistic. However there are some banks out there that still think they can over price their properties. As an investor reo's or foreclosures seem to be the best way to gain a property with a clean title. Short sales on the other hand can be very tricky. If the seller has put an equity line on the property or a second mortgage you then have to deal with two lenders. If it is new construction going into foreclosure you usually have to deal with mechanic liens. Sometimes I feel it is best … (8 comments)
Reo's or bank owned property is finally becoming more realistic. However there are some banks out there that still think they can over price their properties. As an investor reo's or foreclosures seem to be the best way to gain a property with a clean title. Short sales on the other hand can be very tricky. If the seller has put an equity line on the property or a second mortgage you then have to deal with two lenders. If it is new construction going into foreclosure you usually have to deal with mechanic liens. Sometimes I feel it is best … (8 comments)
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