All Forum Posts by: Teonna Dyer-Johnson

@Wayne Brooks No, this is an REO property listed on the MLS with the phrase "SOLD AS IS PRICED AS IS AND AS AN ASSIGNMENT OF THE BANKS CONTRACT SPECIAL FORMS REQUIRED" noted in the listing. It clearly says "assignment of the bank's contract" and it is listed with a Realtor, not a wholesaler.

Hi all-

This is my first started discussion on Bigger Pockets, although I have been lurking for months. : )

Is anyone familiar with buying a foreclosure by allowing the bank to assign their contract over to you? I ran across a home in my area that specifically states "SOLD AS IS PRICED AS IS AND AS AN ASSIGNMENT OF THE BANKS CONTRACT SPECIAL FORMS REQUIRED"

I'd be interested to know how that works and what the pros and cons are? I can't find much info about this anywhere. Thanks in advance for your help.

I am a Realtor and wholesaler. I work in Prince Georges, Charles, Calvert, and St Mary's counties. There are lots of REIA groups you could join and they are all on meetup.com.

Definitely stop by SOMDREIG. We are meeting tonight at 7:00 pm. See the meet up link above from @Ned Carey for details.