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Real Estate Deal Analysis & Advice

REO Advice

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Posted Aug 3 2008, 10:53

Greetings-- I know a bank REO will list the asking price sometime this week. My first question is can I consider this REO to be a "short sale"

I know the first mortgage: 198,000
2003 purchase price: 150,800

I comp sold 04/2007 225,000

Obviously I wait for the list price. Then what steps do I take. Do I simply put in the offer with the REO agent?

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