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REO Series Part III – Working with the Buyer | 3 Hours CE
February 24 @ 6:00 pm - 9:00 pm
One event on April 10, 2021 at 9:30 am
Buying REO properties is actually very similar to buying a general home. However, there are a few things you need to know. It’s not the kind of purchase where buyers and their agent would want to just wing it.
The property will be sold “As-Is” no repairs will be made by the bank. Buyer’s offer must have a letter of commitment from their lender to be considered and the title is conveyed by a special limited warranty just to name a few differences.
The REO asset management company will provide additional procedures such as inspection of the property, finance and appraisal contingency, seller concessions, and specific closing details.
It’s typical for an REO offer to be reviewed by several individuals and companies which means it could take days to get a response. Once approved, the buyer must be ready to close quickly.
Patience is essential. If your buyer is in a hurry to buy, an REO property might not be for them.
Let’s discuss all the details in working with the buyer.CLICK HERE TO REGISTER
(This class will be live video streamed via Zoom. If you are not already familiar with the Zoom platform, please try and familiarize yourself prior to the class. Click here to contact us if you have any questions.)