BEST ANSWER
FIRST ANSWER
Mtl,
Buying bank owned or REO properties is a bit different than other transactions... If you want to give me a call we will walk you through the process and help you make any purchase you like.
Basically it is the same process... make an offer, bank either accepts or counters. Do inspections and appraisal, etc... then move to closing. The difference come in HOW the bank works and the extra forms and contracts they use... There are also other issues like tile issues, utilities etc...
Work with an agent that does this often and they can keep the "problems" to a minimum but with REO properties there are almost always some "bumps in the road"... you get a good deal but with that comes some head ache...
Hope that was some help... that was just a pretty broad question...
Thanks,
Mark
937-353-4600
Fri Oct 16 2009, 08:56