Anyone with REO / Foreclosure Experience?

Beemnseven · 02-25-2008, 02:07 PM

Just make sure you do a title search on any homes in foreclosure to make sure there aren't any other outstanding liens on the property. The other problem with foreclosures is that you have to contend with a bidding war right off the bat. Unless you find one that nobody else wants -- which is a red flag by itself.

REO properties might be a better option. There's plenty of them out there. And the banks want them off their books as fast as possible.

Where are you in the southeast?

02-25-2008, 02:07 PM	#7
Beemnseven Pro Bowl Join Date: Feb 2004 Location: Virginia Beach Age: 52 Posts: 5,311	Re: Anyone with REO / Foreclosure Experience? Just make sure you do a title search on any homes in foreclosure to make sure there aren't any other outstanding liens on the property. The other problem with foreclosures is that you have to contend with a bidding war right off the bat. Unless you find one that nobody else wants -- which is a red flag by itself. REO properties might be a better option. There's plenty of them out there. And the banks want them off their books as fast as possible. Where are you in the southeast?

Anyone with REO / Foreclosure Experience?

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