We have one rental property and have had rentals for over 15 years and excellent credit. I understand that
occasionally a REO bank owned property may be able to sale a property with almost zero down if they feel the risk is worth it when they are the "Owner" of the property and therefore do not have the same rules? Do you know of any possibilities?
Thank you. Of course it would have to be a price that could fit into a landlord equation correctly.
Typically...if you can pay cash, and buy multiple properties, Banks will bend over backwards to make you a great deal. Other than that, they really don't make deals.
Let me know if I can help you in any way!
Joan Wilson (Realtor, SRES, Ecobroker)
California Cool 4 Sale
Prudential California Realty
Direct Phone: 760-757-3468
Fax: 760-946-7894
JoanWilson@prusd.com
License # 01341483
It is my Goal to Increase the Success and Profitability of Those I Serve
Good morning,
Our company received bank owned listings from lenders. When considering offers, they are looking for the best price WITH the highest probability of closing.
With that said, the buyer needs to come with their own financing. The bank wants as much money down as possible from buyers. They do not self finance sales.
Best regards,
Mark and Kari Shea
San Diego Real Estate Experts
Foreclosure, Short Sale & Investment Specialists,
Development Opportunities & Traditional Real Estate
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