LOOKS LIKE A KILLER REO DEAL BUT WHAT ABOUT PREQUAL?

Posted on: Thu, 09/24/2009 - 21:07

3BL Investments

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LOOKS LIKE A KILLER REO DEAL BUT WHAT ABOUT PREQUAL?

Hi I just stumbled on what may be a killer REO deal. The listing price for the home is $199K with the FMV for the area around $280 on the low side to mid 300K's. I will be looking at the home tommorrow which I am sure needs plenty of work but the listing agent requires a proof of prequalified funds to be given with all offers to the bank. The problem is I have not been prequlaified as of yet and I am not sure If I even will. Am I wasting my time here without that? Will the bank realistically consider a offer thats not cash? I would expect this home may get alot of action. Please advise. I would hate to miss this possible killer deal. Thanks

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Posted on: Mon, 09/28/2009 - 03:00 #1

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3BL Investments,

How did the home viewing turn out for you onb this bank REO? Sometimes a bank can be motivated and offer 100% financing on their REO. You could try this and see if they be willing to deal. Keep us updated as to any progress on this potential deal. Believe and Achieve! - Joe

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