Making an Offer on an REO - Part I: PRICE

Real Estate Sales Representative with Fieldstone Real Estate

For Part I, we'll start with the big one: PRICE. "What should I offer?" is a question I hear time and time again.

It's halfway through 2008, and it seems that almost the only thing I do these days is work with buyers purchasing REOs. Here, I will attempt to share with you what I've learned....




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David M. Childress
Howard Hanna Real Estate Services - Akron, OH
I would love to be your RealtorĀ® in Akron Ohio!

I will be happy to get back clients that want to buy normal, seller lived in homes. I am tired of these bank offers and fighting for utilities and inspections. Way too much work and aggravation for the money. I feel we are a few years off.

Jul 20, 2008 02:03 PM #1
Cape Coral Florida Golf Course and Waterfront Homes
Gulf Coast Realty Network, Inc. - Cape Coral, FL

i agree with you and David on the REOs.  Getting the client to the right mindset is only Step One, but it is surely the most important step.  Dealing with "Big Deal" arrogant listing agents is a pain, but what goes around will come around some day.  I have made a few good friends in the business....people who are not over-whelmed by a dozen listings and who are helpful to the Buyers Agent.  By the way, I only work REOs as a Single (Buyers) Agent.  First time in my career that I ever signed up as a Buyers Agent, but it's the only way to fly as far as I'm concerned.  Same idea on Short Sales....I am always the Sellers Agent for my listings so I can negotiate with the bank without delays.   When the iron is hot.....STRIKE!


Jul 20, 2008 02:25 PM #2
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Vicky Chrisner

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