Adam Dalton @ Century 21 M&M here. I've been working with a lot of buyers on REO/bank owned properties in Stanislaus (Patterson is about 15 minutes from my office in Turlock) and I'll let you know that from my experience, every single one can be very different. Depending on the circumstance, you may offer above asking price and be an all cash buyer and could still not secure the property. Cash buying does give you benefits, but a bank is looking at the bottom line. If you want to email me the specific property address, I can check it out and give you an idea of where you might want to come in at. Then we can go from there. The nice thing about cash is that you have the potential to close quickly. Also, tell me, are you a first time home buyer, relocating, or investing?
Thanks for your question and I look forward to hearing from you.
Adam Dalton, Realtor
Century 21 M&M and Assoc.