REOs
19K Posts | 2.3K Discussions
Twenty Tips for Making Offers on Freddie Mac REO Properties
I wanted to share a great post with everyone from the BiggerPockets blog by Winston Westbrook, which details how to increase the odds your Freddie Mac / Home Steps REO offers will be accepted. Check it out and be sure... View more
7 year vacant bank owned home
Hey everyone, I've paying more attention to houses and neighborhoods near me. I've noticed a couple vacant houses nearby so I decided to look them up through the county. There's one that was foreclosed and the title... View more
preREO - First Mortgage Secured by Vacant Property
As an investor in a couple of Jorge Newberry’s note funds, I came across one of his newer ventures: preREO. I’ve heard him speak briefly about this on a podcast or two and am signed up to attend a webinar with them... View more
Buying 1st mortgage on preforeclosure
Happy holidays, all. I'm looking at a property in which I can buy the 1st mortgage on a home in the foreclosure process (not yet REO). The 1st mortgage would cost me around $16k, while the remaining total debt is... View more
Auction.com cancelled my bid
I have won the bid on a property At auction.com the bid amount was 93000 and the reserved was met , I got the property under contact for 93000 I wired the title company the deposit which is 5% and after one month of... View more
Lets see those completed deals!
I know a lot of people claiming big profits from REOs... Let see 'em! Initial asking price versus actual sales price and then your sales price. Wholesale, flip, whatever exit you used. Thanks!
Reserve not met on auction.com
Has anyone actually won a bid on auction.com?And if so did you hit the reserve price? And also does it notify you if you have reached the reserve price??
Hack Detached Garage To Make It A Rental?
Is it ok to turn a detached 2-car garage into an efficiency apartment? I'll be adding a bathroom and kitchen. Will it cost too much to add the plumbing and electrical? This is my primary residence (no HOA) and I live... View more
Bank owned property for sale, former homeowner won’t leave
I came across a REO property for sale in a Delaware. It's priced at about half of what similar homes sell for in the neighborhood. The problem is apparently the former homeowner is still occupying the home and has no... View more
Disclosure Laws on Foreclosures
Im a newbie and looking for my first investment property. This is in Virginia. I’m looking at a foreclosed property and noticed it said in the listing disclosures exempt. Is this true that they are not required to... View more
How To Purchase An REO Property
How Do I Purchase An REO Property When the Bank Doesn't Know They Own It?I'll start by saying I've always wanted to purchase a foreclosure but never really had the guts or understanding.  But I think I've found the one... View more
Buying an REO with Conventional Loan
So I would like to buy an REO foreclosure and have a convential loan. The house must be liveable to qualify for the loan. It will at least need finish floors and kitchen appliances. The only way I can think of to make... View more
Tips on buying foreclosures
Hi there, we are a newbie investor who currently own one property and waiting to close on our second one. Our target is SFH in our local area in Haughton/Bossier Louisiana. We had issues with closing a deal because the... View more
Auction.com Property Listed as Vacant but there is full of staff
I have just won an auction.com investment property in Maryland listed as vacant but seems there are a lot of furniture in in. I drove by a few weeks ago and saw an eviction notice envelope taped on the door. Went by... View more
Wells Fargo REO now accepting eSignatures
Effective October 9, 2020, in addition to allowing wet signatures on purchase contracts and addendums, Wells Fargo will begin accepting electronic signatures on these documents as long as they are in accordance with... View more
How do you access REOs and buy them?
I'm looking at PropStream and I see REO properties with sale prices under 10K. How does one access these properties and actually buy them? And do they actually sell for the prices listed?
Federal Tax Lien on Auction Property
I am looking at purchasing a house via online auction. It states the seller will "pay delinquent property taxes and any delinquent HOA assessments in accordance with the applicable Purchase Sale Agreement." It also had... View more
REO Sale Due Diligence
 Hi all, I am at the beginning of a deal and found a strange piece of information.  The deal is a single family 3/2 that is partially renovated and the seller is an REO. The plot is 17000sqft with a large 1000sqft... View more
Fannie Mae-1 year ownership requirement
Hello Everyone! I am placing a offer on a Fannie Mae REO, offering a 5 day close and all paying all cash. Has anyone come across the stipulation of investors having to wait 14 days until our offers will be reviewed,... View more
Is it smart to use hard money to get REOs then refinance ?
I'm a virgin to this RE business. I have been reading about strategies on how to get RE with low to no money. I see the best deals are Foreclosures. Has anyone tried using hard money to fund auction acquired property?... View more
Auction.com
The following is an account of my recent “Newbie” experience with Auction.com. After reading the info posted on the forum about Auction.com, there seems to be some mystery in some minds, including mine, surrounding the... View more
Reading Auction.com Title Reports
Hi All- Hadn't been on the Auction.com property in a while and just noticed that they are now including a type of title reports. Any advice on understanding how to read them, look for red flags, etc.? Can't figure out... View more