reos: REOs - The Addendum - 05/29/09 02:56 AM
Three or four times a week I get an email inquiry from consumers who have read my prior posts on buying REO's. (See the most popular of these posts at: http://therealestatewhisperer.blogspot.com/2008/08/reos-everything-you-need-to-know.html or http://therealestatewhisperer.blogspot.com/2008/12/types-of-sales-seen-in-todays-market.html). Specifically the email requests are for an addendum that I reference in these posts.
I am always hesitant to give it directly to the consumer. Laws vary greatly from location to location, and I don't want to be accused of giving real estate advice in areas where I am not licensed. Each bank addendum is different, and therefore the addendum should reflect the language specific to the rest … (0 comments)

reos: Types of Sales in Today's Market - 11/29/08 12:45 PM
This post is intended to assist you with familiarizing yourself as a buyer with the types of sales we are seeing in the marketplace today.  Read separate posts on Short Sales * REOs * Auctions for more detail.
Traditional Sales
If the prices are right, these are the best transactions!  The contract is more "normal" in nature, allowing reasonable negotiations between the parties.  Each party genuinely hopes for the sale to be completed and therefore works together to meet deadlines and ensure everything is resolved to the mutual satisfaction of all parties.  These contracts are generally more predictable. 
Considerations
Generally, private … (1 comments)

reos: Professionals, Your Input Needed - 07/30/08 03:33 AM
Lenders and Agents, you are on the front lines, so I NEED your input here.  Tell me of situations that you see that result in foreclosure.  Don't get into blame... I want to know what the situations of the homeowners are, why it is their only choice.  I don't (for purposes of this question) want to know who caused the situation, just what the situation is, and how we could/should be keeping it from getting worse.  Things that are of interest to me....
1. Was there a hardship that caused the home to become unaffordable, and if so, what?
2. Was there … (5 comments)

reos: The Great House Hunt (Part 3 of Series on Buying an REO) - 07/03/08 09:39 AM
So, you're ready to go see some properties. With the REOs flooding the market, the term House Hunt is starting to have a new meaning. Looking at some REOs can be an adventure - think "Wild African Safari".Here are a few tips on what to expect when you get out there...Continue Reading www.therealestatewhisperer.blogspot.com
 
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reos: The Great House Hunt (Part 3 of Series on Buying an REO) - 07/03/08 12:36 AM
So, you're ready to go see some properties. With the REOs flooding the market, the term House Hunt is starting to have a new meaning. Looking at some REOs can be an adventure - think "Wild African Safari".Here are a few tips on what to expect when you get out there... none of this is fiction, it is based on actual experiences; ...READ MORE ...http://therealestatewhisperer.blogspot.com/2008/07/great-house-hunt.html  
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reos: So, You're Ready To Buy (Part 2 of Buying an REO) - 07/02/08 01:08 PM
You're an investor or a personal home buyer, and you are looking for a great deal. You've heard that "foreclosures" are the way to go, but after reading my last post, you now know that those "layman" are mostly talking about REOs.Anyway, where to start? Start where all buyers should start - outline your goals and get a plan together.........................................................................FINISH READING THIS BLOG POST: http://therealestatewhisperer.blogspot.com/2008/07/ready-to-buy.html
Agents and consumers alike who are starting to feel their way through purchasing REOs will enjoy reading this practical blog with details on what to expect... and a little humor mixed in.
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reos: Some Truths about REOs - 06/30/08 05:39 AM
Despite the fact that most people, practioners and consumers alike, are now familiar with the term REO, some myths still remain. Here, I'll address a couple that I seem to be hearing every day.But, first, for those that don't know, REO stands for Real Estate Owned. This generally refers to properties which have been foreclosed upon and which are now owned by the bank. In today's market, these properties are being marketed in large numbers, and consume about half of the available inventory in many areas. So, before you enter the buying game, there are a couple of myths you should … (2 comments)