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Foreclosure in 06804 : Real Estate Advice

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Activity 1
Mon Jul 13, 2009
answered:
Hello,
I have had experience making offers on Countrywide REOs. Each transaction is a case by case basis and my clients have chosen to stick to their guns as far as pricing. Frequently we've missed out in multiple offer situations. So no successful closed transaction on a Countrywide REO but the commonalities have been:

1) always need a preapproval from a countrywide loan officer
2) in a multiple offer situation you often need to sign a disclosure form saying you're aware you're in a bidding war
3) always have come back to each offer asking for highest & best
4) so far it's been min. 2 weeks response time, more if there's a holiday
5) they have always stuck very close to their list price and offered no counter (the ones I have worked on).

I don't know the list to sale ratio because for countrywide reo's, but based on those I've worked on it's above 95%. I enjoy working with both educated buyers and investors (my background is investment analysis). Link to profile is below if you need contact info. Please call or email for references.
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