Reo property - refinanced by the bank

Reo property - refinanced by the bank

Investor · Bay Area, CA · Member since 2015 · 47 posts · 19 votes
Just curious if there are any regulations that wouldn't allow an reo to be turned into a seller financed deal by the same bank if you were to buy the property from them?
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  • Real Estate Professional · West Palm Beach, FL · Member since 2012 · 23k+ posts · 13k+ votes
    11y

    It wouldn't be "owner financed", they'd make you qualify for a regular loan just if you were buying from someone else, and you'd get a loan just like anyone else, for any other property.  The two transactions would not be related/linked at all.

  • Investor · Daphne, AL · Member since 2014 · 1k+ posts · 242 votes
    11y
    We have done this a couple of times and have found in both cases that there was better financing in the open market. Good luck.
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