forclosures - Posted by Eric

Posted by Mark-Chgo on December 10, 2004 at 16:44:10:

The only problem with buying REO’s, at least in my market, is that they’re listed with brokers at full market value and end up selling for close to that.

My preferred method is to get to the owner before the sale and work a good deal before it hits the market. Just make sure you’re well versed, as there are tons of things that can pop up!

forclosures - Posted by Eric

Posted by Eric on December 08, 2004 at 19:25:10:

What is the best way to enter the forclosure market?? I have sufficient funds to buy at the auction, however, is that the best use of funds??

Re: forclosures - Posted by Tom ¶

Posted by Tom ¶ on December 09, 2004 at 08:12:16:

I would look at REO’s. The problem with auctions is that you are basically buying site unseen. You can’t do an inspection to check out the roof, furnace, bathrooms etc. You also are not always guaranteed a clean marketable title. Because REO’s are owned buy the bank- and are sold thru Realtors- you can fully inspect the property, get a clean title, and can get a complete picture of what the fix up project will cost before purchasing.

Re: forclosures - Posted by Jeff

Posted by Jeff on December 08, 2004 at 20:14:49:

Why use your own $?

Is this your first deal?

Knowing what I know now, I would buy Joe Kaiser Dominate your Foreclosure Marketplace, then his other material. If you want to play in this market his material is loaded with in your face meat.

Good Luck