It seems everyone is offering REOs or saying they have buyers but in general this is hype by so called 'consultants'!
By REOs i am meaning bulk REOs in $10m plus packages.
The numbers i hear people mention make me cringe. Do these people know what they are talking about?
Yes i believe there is a niche market for these but in the most part these will be transferred from institution to institution direct.
However. We do have a bank source (it's a National Institution) but the 'consultants' would need to get their fee from their buyer and also we would require reams of paperwork and also after a lot of checks. Only after this stage would any deal move forward.
The money has to be deposited in our banks account (not ours) first before they pass on the REOs so scammers beware, you can't beat the system!
If anyone is interested about what we do and wishes to purchase bulk REOs that really do exist. Please contact me.