Posted by js-Indianapolis on November 03, 2002 at 23:45:04:
That should spell it out faily well.
Auction vs. REO? - Posted by Kyle
Posted by Kyle on November 03, 2002 at 23:29:44:
Can someone tell me the pros and cons of buying a house through auction and as an REO? I am just getting started in real estate investing and so far I haven’t had any luck dealing with foreclosed sellers directly.
I want to go ahead and buy something already so I am thinking of going the auction route. I have my eye on 3 properties right now. I plan to have a title company do quickie reports on each property for me tomorrow. I have the cash to buy at an auction but I’m definitely concerned about having to evict a tenant or getting burned in any number of ways.
I have been told that properties are sold via a realtor once they become REOs and it can also take months for the property to actually be listed once it gets passed all the red tape.
Any comments and suggestions would be greatly appreciated.