Creative Bid Ideas

[McKellar Newsom]

I like negotiations, but with REOs you often don't get to the table with the bank. The only way to communicate is through the use of a bid. What creative bid ideas have you used buying bank foreclosures?

[Will Barnard]

To recap, here are the main targets for offer strength.
1. Price
2. All Cash, no financing, with real POF
3. Large as possible EMD
4. Very very short inspection contingency, no other contingencies. I use 5 days max
5. Short closing period. I offer 10 days, not 20, the shorter, the stronger your offer.
6. Relationships with REO brokers. RELATIONSHIPS, RELATIONSHIPS!