REO Ask and You Shall Receive

Real Estate Agent with Fine Island Properties LLC RB-21124



Recently I was working with a lovely young couple for a first home purchase.  After many offers and being the bridesmaid we finally got an acceptance and were the bride on a cute house and cottage fixer.

It was apparent the home needed some work, but my buyers went into the offer with eyes wide open.

The appraiser came back with a need to fix list incl some peeling paint in many areas of the home, roof repair and flooring.  The underwriter came back with a FULL PAGE of fixes based on the "suggested future repairs" from the appraiser. 

We thought we were sunk, but the clients had waited so long and they were hopeful so I submitted the list to the listing agent who was rather shocked as was I.  He was able to get the ENTIRE HOME painted, roof repaired, flooring done, plumbing, gutters, etc etc.  I'd never heard of a bank that was willing to paint the entire home.  Not only the body of the home but the trim too.

Don't be afraid to ask on an REO and you may be surprised and your buyers will thank you.

Aloha, Gina Duncan

Comments (3)

Edward & Celia Maddox
The Celtic Connection Realty - Queen Creek, AZ

If you get the right asset manager (preferrably with a brain), it can work.  Thanks for sharing.

Oct 01, 2010 06:29 AM
Julie A. Black
KAUAI DREAMS REALTY Kauai Real Property Specialist - Kapaa, HI
CLHMS, CRS, GRI, Realtor, Broker

Wow, what bank was it, a local bank or mainland bank? I haven't heard of many REO banks doing that.

Oct 05, 2010 07:53 PM
Gina Duncan

It was BOA.  What a shocker...

Oct 05, 2010 08:08 PM