reo: 7 Buyers Tips for REO properties - 12/16/09 12:54 AM
7 Useful Tips for a Buyer that is considering an REO property:
1. The Best time to make an offer on an REO is toward the end of the month.  Banks and financial institutes like to have as many REO properties out of their available inventory by the end of the month.
2. Consider the area that the REO is located and current market conditions in that area.  If the community that the REO is located is well maintained, mostly full time homeowners versus tenants,  the REO property has a much better opportunity to appreciate higher in value.
3. Buyers of REO … (3 comments)

reo: Seven Things a Buyer should consider before Buying a REO - 12/15/09 04:37 PM
So Many Buyers are only interested in properties that are the REAL DEAL and particular in REO Properties, but are they really aware of the some of the condtions to look out for in purchasing an REO.
1. FLEXIBILITY -Timelines involved with closing REO properties can be delayed.  If a Buyer has a Rigid Closing time, then an REO might not be right for them.
2. FINANCIAL ABILITY-Do the Buyers have the financial ability to close an REO?
3. PROOF OF FUNDS-Do the Buyers have proof of their funds, ready and available and are they willing to suppy proof?
4. ADDITIONAL FUNDS … (1 comments)

Glenda and Steven McDaniel (Long and Foster Smith Mountain Lake Office)

Glenda and Steven McDaniel

Smith Mountain Lake, VA

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Long and Foster Smith Mountain Lake Office

Address: 16869 Moneta Road, Moneta, VA, 24121

Office: (540) 797-2247

Mobile: (540) 797-2247

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