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REO Strategies - Financing

Tip #1

I was working on a REO (Bank Owned) today for a client. The House we found was priced aggressively and the bank holding the property offered to finance the house. The terms were excellent and the rate was discounted. This is one of the advantages of purchasing REOs from banks. On a good scenario, one could pick up a property at a distressed price and secure discounted financing from the bank holding the property. This was very common in Destin, Forida in the 1980s and we may see more and more of this in the coming months.

Banks do not want to be in the real estate business and some are willing to offer special terms to get out. When working on an REO, be sure to inquire about any "Special Financing Opportunities". You may find the bank happy to finance their property.

Please visit me at www.BrokerClayton.com.

Clayton Bonjean, Broker - President, MBA, CDPE, SHORT SALE SUPERSTAR
Mainsail Realty Company
BrokerClayton@gmail.com




Destin Foreclosure Help:  There are many options available other than foreclosure.  I am a "certified distressed property expert" and have the experience necessary to help people facing foreclosure.  Please call me at 850-585-1284 or email me at clayton@mainsailrealtycompany.com if you or anyone you know needs help.




Posted Thursday Feb 26