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How do I find REO comparables? First time they are asking for REO comps Help please

Real Estate Agent with BrioRealty

October 15, 2007 09:22 AM

ok I have been doing bpos for about 3 months now. I have probably done like 20 in total. My business is starting to pick up which is good. But all of sudden they are asking me for REO comps. I some times have hard enough finding regular comps little lone REO. Where do I find these REO coms? This BPO is do by 5pm pacific time. If anyone can help me I appreciate it very much in advance.

Thanks

Ethan

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Paul Moye

Benchmark Realty - Franklin, TN

Broker, GRI, SRES

Most MLS listings should use phrases like as is, vacant, owner of record as tips that the bank owns the property and not an individual. Also look for wording on the paperwork requiremenrs and set amounts of earnest $$$ as signs of bank ownership

Oct 16, 2007 01:32 AM

Ethan Pruett

BrioRealty - Olympia, WA

thanks for the info

Oct 16, 2007 05:28 AM

Karen Hurst

RICOASTALLIVING.COM - Warwick, RI

Rhode Island Waterfront!

For sold comps, you should be able to put in REO in "type of sale". Not all Realtors put it in when they enter the data, but it will bring some up

Oct 17, 2007 05:24 PM

Carmen Offutt

La Rosa Realty - Altamonte Springs, FL

In my area we have a Realtor Only box in the MLS and it usually says Bank Owned, if that is the case. Also if the price seems too low for the area they are likely to be REOs.

Oct 18, 2007 03:00 AM

Dorothy Neumann

NeuDot Realty - Westmoreland, NY

In my area you can search by owner. "Corp" will turn up a lot. Cruising through the owner names you may find HUD, VA, bank name, etc.

Nov 20, 2007 10:53 PM

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