Buying REO from Selene Finance

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Buying REO from Selene Finance

William Adams
Sewell, NJ · Member since 2017 · 2 posts · 0 votes

Hi, I wanted to know if anyone on here has purchased a REO from Selene Finance?

How did it go? I put an offer in on one of their properties and they countered but no where close to my offer. We went back and forth a couple of times but I feel the price is still to high. The property has been on the market for 90+ days. Seller has not dropped the listing price. As far as I know, there are no other acceptable bids. Any advice? Thanks.

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Jason D.
Rental Property Investor · St. Petersburg, FL · Member since 2017 · 3k+ posts · 4k+ votes
8y
I don't know anything about Selene Finance but my advice is that if you have a purchase price to make a deal work, stick to it. If they aren't willing to move to your price, walk away. Maybe it become a deal in the future but for now, keep hunting.
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  • Jason D.
    Rental Property Investor · St. Petersburg, FL · Member since 2017 · 3k+ posts · 4k+ votes
    8y
    I don't know anything about Selene Finance but my advice is that if you have a purchase price to make a deal work, stick to it. If they aren't willing to move to your price, walk away. Maybe it become a deal in the future but for now, keep hunting.
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  • William Adams
    OP
    Sewell, NJ · Member since 2017 · 2 posts · 0 votes
    8y

    Jason, thanks for your response. I plan on waiting this one out for now. 

    Anyone specifically deal with Selene Finance? 

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  • Jay HinrichsBusiness Member
    Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
    8y

    quick google search and look at their website and it looks like they are a servicer.. so probably just taking marching orders from whatever lender investor or bank owns the asset.

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  • Karl Lathus
    Property Manager · Frankfort, IL · Member since 2016 · 7 posts · 1 vote
    8y
    I do a lot of work with Selene finance as contractor. I’ve never bought from them but do know that they do move a lot of REO inventory. It really depends on the specific property. I’ve seen them lower their price by 50k just to move a house but I’ve also seen them stick to their guns and hold a property and not move one bit. It really depends on what their numbers look like. Sorry this isn’t anymore help. Let me know if you have any questions for me
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  • Jennifer Hobbs
    Member since 2019 · 1 post · 1 vote
    7y

    We actually just looked at a house that we have been interested in and it's owned by selene finance they bought it for $97500 but are selling for 137500 and no improvrments have been done. It sounds a lot to me like they hold onto their houses to drive up their stocks....anyone remember the housing crisis back in 2002-2003? Those banks did the same thing. My advice? Find another housr...sorry. that's what we are doing 

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  • Chris SeveneyBusiness Member
    Moderator
    Investor · VA · Member since 2015 · 21k+ posts · 19k+ votes
    7y

    @Jennifer Hobbs

    Where do they list their REO's ?

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