Time of year for offer on bank owned REO?

[Dawn Anastasi]

Since we are approaching the end of the year, is there any incentive for a bank to get REOs off their balance sheet before the end of the year, or does the timing not matter for them?

[Mary B.]

End of quarter and end of year to get LPNs, NPNs and REOs off of the books is what all of the banks(big and small) do with gusto. The beauty is that its twice as nice of a deal for real estate investors in that end of year is also end of the quarter all wrapped up together. If you have something under contract with them negotiating lower would likely be approved sooner than later....

Kudos,

Mary