Buy bank-owned properties at fire-sale prices
Banks and lending institutions today own more than one million
foreclosed properties, more are in the foreclosure pipeline. Banks
desperately want to get these properties off their balance sheets,
but there aren't enough buyers. The result is a soft real estate
market with prices investors and homeowners may not see again in
their lifetime.
In recent years many bargain-hunting investors and homebuyers
made the mistake of trying to get foreclosure prices via short
sales and pre-foreclosure-- before the bank reclaimed the property.
They've been burned by endless delays and uncertainty of the messy
foreclosure process. With bank-owned properties, that's over. You
deal directly with a motivated seller--the bank--and get the
foreclosure price without the hassles and complexity of a short
sale or pre-foreclosure.
This book shows you how to negotiate the best possible terms
with the real estate owned (or REO) department of a bank or lender,
including step-by-step instructions and no-nonsense advice on
finding great deals, estimating fair market value, and closing the
deal. You don't need a ton of cash, because REO investing at
fire-sale prices is affordable for almost any investor or
homebuyer.Provides detailed, step-based guidance on buying REO
propertiesWritten by a super-successful REO investor with fifteen
years of experience
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