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Buyers Looking for Deals in REOs

By Mark Lackey

Real Estate Agent with Atlanta Housing Source at Solid Source Realty, Inc.

January 22, 2009 03:19 PM

I am currently working with an Atlanta Buyer that want to find a deal in a bank Real Estate Owned (REO) property. Having worked with a bank handling their listings and on the buyers side handling many transactions it is an education process to keep my Buyer from being over anxious.

We are in the middle of what is typical for negotiations with a bank. They take all the human element out of the negotiations and make up hurry up and wait, then expect miracles to happen to the timeline. In the end they put offers on and off the tabel so many times it is a full time job keeping trak of wher you are in the negotiation.

Being a specialist in working REOs has brought me additional Buyers thru the referals I get from the happy clients. I have worked every thing from a 3/2 for $15,000 to a 4/4 listed for $1.2 million. No job too small or too large.

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Kent Simpson

Realty One Group Mountain Desert - Tucson, AZ

Real Estate Is About People

REOs have played a big part in our residential market becoming affordable for the average Joe - it is almost impossible to find anything worth buying in the entry level segment that isn't an REO or short sale right now!

Look for REOs to start popping up in the commercial sector more and more as the year goes by. A lot of notes are coming due this year...

Jan 22, 2009 03:34 PM

Vickie Nagy

Coldwell Banker Residential Real Estate - Palm Springs, CA

Vickie Jean the Palm Springs Condo Queen

Everyone wants a great deal. Sometimes it's an REO, sometimes it's just a motivated seller.

Jan 22, 2009 04:07 PM

Everard Korthals

---Preferred Lifestyle Advisors--- - Lancaster, PA

Mountain Realty

Welcome! If ever you were to have any questions then feel free to contact us and we'll try to help. Please take a look at our blog. for links to valuable information in our sidebar that you can use to navigate this extensive network.

We hope you have a great day, All The Best-

Sincerely, ( Castellum Realty llc - Lancaster PA Real Estate )

Jan 22, 2009 04:26 PM

Condominiums Toronto

toronto - Acton, CA

If you list your home for sell,You should be very concerned if the agent you are speaking with does not ask.Not asking could open the door for possible issuses with the transaction later on and even lead to legal action by unhappy buyer..seee more in Toronto Condo

Jan 22, 2009 04:35 PM

Chip Jefferson

Gibbs Realty and Auction Company - Columbia, SC

Buyers are looking for unrealistic deals in some cases. Lowballers wishing a home to be given to them. If I see thats what they want I dump them.

Jan 22, 2009 10:13 PM

Sasha Miletic - Windsor Real Estate

RE/MAX Preferred Realty Ltd. - Windsor, ON

Hi Mark, Welcome to AR, Be a Blogholic and start writing your own blog soon on AR. All the best for your RE business. This is the right place for customers, friends, realtionships etc.

Best - Sash

Jan 22, 2009 11:26 PM

Anonymous

Yvette & Dennis Gardner, Keller Williams Realty, Spartanburg, SC

Mark, Welcome to the Active Rain community. This is a great site with lots of information. Have fun with it and hope to see more of your blogs soon! We have a team of three outstanding full time agents to assist your buyers and sellers in Spartanburg/Greenville, SC. Let us know if we can ever help. Again, welcome to AR!!

Jan 23, 2009 12:04 AM

The Trumm Team Omaha Homes for Sale, Real Estate

Keller Williams Greater Omaha - Omaha, NE

Welcome to ActiveRain!

If you would like a few tips on getting the most out of ActiveRain, please visit my blog Welcome to Active Rain. It has a few simple steps of what to do now that you have joined.

If you ever have any questions, just let me know.

Troy Trumm, Trumm Team, Omaha NE

Jan 23, 2009 12:24 AM

David Painter - Keller Williams Realty - Spartanburg, SC

Good to have you on Active Rain. This is a good site for gathering information and interesting to see what others are blogging about. Contact us if we can be of service to you. We would be happy to send you a referral or to take good care of any referral you would send to us.

Jan 23, 2009 01:32 PM

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