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Dan Mullarkey, ABR

  • 2 Helpful Answers
  • 30 Answers
  • 2 Blog posts
Agent at Re/Max Excalibur
Experience:
Real Estate Consultant for Re/Max Excalibur December 2006—present
Full time experienced real estate sales professional specializing in Phoenix area homebuyers…
Real Estate Consultant for DPR Realty November 2004—December 2006
Full time experienced real estate sales professional specializing in Phoenix area homebuyers…
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Specialties:
Buyer Representation
Seller Representation
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Certifications
& Awards:
My Designations:
-Multi Million Dollar Producer in 2007
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Interests:
Some of my interests include:
-Family:-)
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About:
I am an Arizona native and experienced REALTOR®. My practice of putting clients first helped me become a Multi-Million Dollar Producer in 2007. I received ... show more
Testimonials:
"Dan Mullarkey is the most insightful and ambitious agent I’ve known. He made purchasing my dream home in Scottsdale a smooth, trouble-free process. ... show more

Questions about buying Phoenix Foreclosures

Dan Mullarkey, ABR answered:
Here are some answers that I hope you find useful, I specialize in Bank Owned Properties and have dealt with many different banks all over the Valley:

1.) Typically, yes-there are many factors that go into what the bank lists the property for, an experienced REO agent can guide you in the right direction. All bank operate differently, some things you may want to examine for starters are: days on market (typically the longer a home has been listed, the more flexible the bank is on price), what other REOs are selling for, how many offers have been presented previously, etc.

2.) I have not heard of a bank accepting an offer in that manner, they usually want to get the property off their books so financing the property wouldn't accomplish that.

3.) Most likely the comps in the area will be the biggest factor.

It sounds like you want to pay cash but with interest rates being at a historical low, it would be an excellent time to put 20% down on several REOs, giving you some leverage.


Check out my blog for some additional useful tips:


http://www.trulia.com/blog/dan_mullarkey_abr/2008/12/buying_… - Thu Jan 8 2009, 16:44
"Buying a REO (Bank Owned Property)"
New comment posted Thu Jan 15 2009, 14:24 by Dan Mullarkey, ABR
3 Comments
"Now is the time to BUY!!!"
New comment posted Sun Apr 12 2009, 19:00 by Voices Member
2 Comments

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