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The Tricks and Traps of Buying bank owned REO properties - Part 5
In previous articles in this series, I discussed how banks handle an upcoming R.E.O. property prior to the foreclosure auction, how banks determine prices for their R.E.O.'s, and what specific properties you should target for the greatest deals.  In the last 2 articles of this series, I will be discussing negotiation strategies for getting the best deals on bank owned REO's. 
The Tricks and Traps of Buying bank owned REO properties - Part 1
The Tricks and Traps of Buying bank owned REO properties - Part 2
The Tricks and Traps of Buying bank owned REO properties - Part 3
The Tricks and Traps of Buying bank owned REO properties - Part 4
  (Huge 5/3 Altamonte Springs pool home that we will be listing as an REO.)
If you reference back to Part 3 of this series, you can find information on the critical time frames during the life of an REO foreclosure listing.  The key thing to remember is that banks typically do not entertain lowball offers during the first 30 days, but they become increasingly more open to lowball offers as the listing ages.  This is especially the case as the listing reaches 90 days or longer on the market.  ... more

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