Foreclosure in 95148>Question Details

pam, Home Seller in 95148

Looking for agent who is familiar with REO properties to help me make offer on the house I'm interesting in.

Asked by pam, 95148 Wed Jul 18, 2012

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The agent is the first aspect and then the Buyer is the second. It is so very important that YOU are ready and positioned to compete.

Do you have your loan approval? Or are you paying cash?

Are your funds ready to close? Proof of funds to close?

Are you willing and able to accept the property with the strict guidelines from the Seller?

Are you prepared to pay more than the asking price if necessary? Can you close quickly?

What kind of contingencies are you willing to waive?

These are the types of questions you are going to be asked when you meet and write your offer.

Be prepared.
Web Reference: http://www.terrivellios.com
1 vote Thank Flag Link Thu Jul 19, 2012
Pam,
As already stated almost all the realtors here have experience with purchasing REO'S.
What you should do is look over the profiles of a few of us agents who are familiar with the are you wish to purchase in ( 95148?). Then contact one of us who you feel will represent you well and go from there.
Feel free to contact me:)
At your service,
Allyson
408-706-6578
allyson@homesbyallyson.com
Certified Distressed Property Expert
1 vote Thank Flag Link Thu Jul 19, 2012
Hi Pam and thanks for your post.

As you can see, there's plenty of great agents out there who can assist you! Give any of them a call and I'm sure you'll find one with whom you can work. Just keep in mind that there are inherent problems with purchasing an REO, so you need to be really aware of the possible problems and be certain that any issues concerning the home can be resolved without "breaking the piggy bank" for repairs.

Although I usually provide rebates on the commission provided to the buyer's agent, in most cases, I cannot do this with foreclosure and short-sale properties because the banks will not allow it. I can, however, rebate the cost of home inspections, reports, termite inspections, and some repairs. So if you're interested in a home, and in saving some money, why not give me a call?

Sincerely,
Grace Morioka
Area Pro Realty-People's Choice
Tel (408) 426-1616
0 votes Thank Flag Link Thu Jul 19, 2012
Hi Pam,

Thank you for posting the question. If you still have any question and/or concern, please give me a call or send me an email.
Thanks,
Best wishes,

Lamson Dang
408-595-6205
http://lamsondang.com
Web Reference: http://lamsondang.com
0 votes Thank Flag Link Thu Jul 19, 2012
Hello Pam, most active agents in our area have experience with purchasing REO properties and I am one of them. The majority of us use standard California Association of Realtor forms for purchase offers. Typically with REO props, the banks come back and counter with their own contracts, forms, addendums, etc. and it can seem overwhelming to first time REO purchasers. Furthermore, the banks are exempt from standard disclosures as to known defects of the property (because they never lived in them) so it is imperative you get a good home inspection once you are in contract, and have an inspection contingency in place. I rebate my client's cost of their home inspection back to them at the close of our escrow because I don't want my buyers to purchase property that has not been inspected. Whether or not it is REO. Check my website below along with my client testimonials, resume', and other information you will find there. If you feel comfortable working with me, please give me a call and I will be happy to represent you and help you to navigate the process. Kind regards, Andrea Wince.
0 votes Thank Flag Link Thu Jul 19, 2012
Hi Pam, I have written about 300 offers on REO properties. Have gotten my clients offer accepted over
as many as 42 other offers. There are extremely important items within an REO offer that Must be
strictly followed or you will never have your offer accepted. Many clients have come to me after submitting offer after offer and many times I have been able to have their offer accepted on the first
property. Call me to find out how to write the Strongest Offer that can be written on an REO. It is NOT always about the highest Price.


Bradley R. Wilson
488 Blossom Hill Rd. Suite B
San Jose, CA 95123
Bradley@AMICIrealestate.com
AMICIrealestate.com
DRE 01491944 NMLS 340990
Direct: (408) 228-7867
FAX: (408) 273-6975
0 votes Thank Flag Link Thu Jul 19, 2012
"Make sure that the agent you hire is not only good, honest and diligent but also an expert in the type of property and the area involved"

Bob Tran, Realtor, SFR, CHS, BPOR
Short Sale & Foreclosure Resource
Certified HAFA Specialist
Broker Price Opinion Resource
DRE#: 01202864
VS Realty & Loans, Inc
Cell: (408) 334-3698
Office: (408) 289-5370
Fax: (408) 289-5375
E-mail: BobTranRealtor@gmail.com
http://www.vsrealtyinc.com
2114 Senter Rd, Suite 11 , San Jose, CA 95112
0 votes Thank Flag Link Thu Jul 19, 2012
Looking for a agent we can help http://www.connectedinvestors.com/tersmt1
0 votes Thank Flag Link Thu Jul 19, 2012
Hi Pam,
I can help you with REO/foreclosed/bank owned, short sales, builder sales and standard sales, give me a call

good luck!
BUYER CASH REBATE 50%-60% / SELLER DISCOUNT 50%

Quality Full Service! Work directly with the Owner/Broker.
Flavio Tejada, Owner/Broker, Realtor, MBA-Finance
(415) 305-2958
0 votes Thank Flag Link Thu Jul 19, 2012
Thank you, Pam:

Currently, in San Jose California we are experiencing a seller's market. We are currently experiencing multiple offers with overbids on properties that are in desirable locations, and reasonably good locations.

Winning one of those bidding contests requires the assistance of an agent who is knowledgable and experienced.

You need to sell yourself to the seller as if you were selling yourself to a potential employer as if you were applying for a job.

For an REO seller that means selling yourself to the bank and the employees of the bank who will make the decision which offer to accept..

You need an agent who can help you with packaging your offer and convincing the seller that your offer is the best of the multiple offers that you are competing against.

Thank you,
Charles Butterfield MBA
Real Estate Broker/REALTOR
American Realty
Cell Phone: (408)509-6218
Fax: (408)269-3597
Email Address: charlesbutterfieldbkr@yahoo.com
DRE#00901872
.
0 votes Thank Flag Link Thu Jul 19, 2012
Almost any agent can be familiar enough with REO properties to help you make an offer. But, if you're looking to win a deal, then let me know.

My firm has been winning deals for our clients even in the midst of a very hot market. Several have been deals for investors where we got deals done for 7-10% below the market price.
Web Reference: http://www.archershomes.com
0 votes Thank Flag Link Thu Jul 19, 2012
Hi Pam,

I am an REO listing agent for BofA, Chase, EMC, IAS-REO. I have listed and sold countless REO's in Santa Clara, San Mateo, Alameda and Contra Costa Counties. I have been an REO listing agent since 2007. Check out my REO web site @ http://www.reofirstpacific.com/
for a list of REO homes I have sold.

Then, call (408-316-0793) or email (rpablaza@comcast.net) me so we can discuss what you need to win your REO offer.

Thanks
0 votes Thank Flag Link Thu Jul 19, 2012
Pam my group at Intero Rwal Estate Services specializes in REO and short sale negotiations. The keys start with understanding the specific criteria and standard operating procedures of the specific lender that holds the property that you are interested in making an offer on.

From there we have a systematic checklist that we use that defines all of the variables in the transaction. We can explain the entire process in a formal meeting but to summarize we work from the organizational requirements through to the specific characteristics, history, comparables and loan assessments for the property. Criteria that must be understood before we present an offer may include such items as in house it investor owned asset, amount of primary loan amounts and fees associated with the lenders recovery actions.

The course of this process allows us to develop a working relationship with both the listing and or REO representatives. Processing an REO can ve simplified by this initial due diligence.

From this point we initiate the property investigations and reports to insure that all of your future ownership rights are protected once you close.

I believe you posted questions on this forum approximately one month ago as we answered several other questions.

Ifcyouvwete require assistance please contact my office for a free no obligation assessment of the property thatbyour are exploring.

Great care and Gid Bless you and your loved ones,


Jinaye Conkey

408-497-6428

The Conley Real Estate Group
Intero Real Estate Services
0 votes Thank Flag Link Thu Jul 19, 2012
Please contact me any time after 12pm EST on 19 July, and I will be happy to speak to you regarding how I can help you get your offer submitted. I look forward to speaking with you.
0 votes Thank Flag Link Wed Jul 18, 2012
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