Foreclosures
Market News & Data
General Info
Real Estate Strategies
Short-Term & Vacation Rental Discussions
presented by
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Creative Real Estate Financing
presented by
Tax, SDIRAs & Cost Segregation
presented by
1031 Exchanges
presented by
Real Estate Classifieds
Reviews & Feedback
Updated almost 14 years ago on . Most recent reply
Terri Pour-RastegarPoster
Pro Member
- Rental Property Investor
- Charlotte NC Fort Mill SC Lake Wylie SC, SC
- 103
- Votes |
- 174
- Posts
Buying REOs RE: Reverse Mortgages
Hello. I have begun to encounter REOs being sold subject to the following: 24 CFR 206.125. I know this clause relates to reverse mortgage and due-on-sale issues.
However, with these same issues, the selling agent will not accept anything less than full-price offers. In fact, it is often so stated in the listing, blamed directly on that particular bit of the code.
What's the deal with this? Why can they not accept anything less than full price simply because a reverse mortgage or due-on-sale issue is at stake?
And, more importantly, how do I play this game so that I can get these houses at the low-ball prices I'm used to getting? :wink: