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The Investor’s Guide to a Single-Family Rental Emergency Fund
As real estate investors, your emergency funds are a critical line of defense against unexpected costs. It prevents you from dipping into your budget to handle them. But what should you really use an emergency fund […]
Don’t Overlook This When Buying an Investment Property—Learn From My Mistake
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Foreclosures
HomeForumsForeclosuresBuying REO's Protocol
Sean Burke's profile image
Sean Burke's profile image
Sean Burke
  • Renter
  • Member since Jan 11, 2010
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Sean Burke's profile image
Sean Burke's profile image
Sean Burke
  • Renter
  • Member since Jan 11, 2010
Connect
Sean Burke
  • Renter
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Foreclosures

Buying REO's Protocol

Sean Burke
  • Renter
Posted Jan 14 2010, 17:40

I have a few REO's that I am interested in buying as my homestead. For the most part the houses are in pretty good shape, no real damage on the surface. I don't love the houses but I would certainly take it off the bank's hands for the right price. What would be a good % of the house's value should I offer to the bank? Will the bank ever not respond to an offer if it is too low?

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