All Forum Posts by: Phil Z.

I doubt he does that as a regular way of finding deals. They have to get market value for their investor which includes making it available to the public via the MLS. This topic is asked over and over with the same response.

If you want to pursue this anyway, you can just search land records for recent foreclosure deeds.

I do a lot of REOs, and the only thing I will tell you is that doing BPOs will not get you any listings.

You want an ATTORNEY to do something for less than $125?  They didn't go to college for 8 years to make peanuts.   IMO, $125 is a good price.

You can also do your own title search by looking up the address and prior owner in the land records to see what liens come up.  A title company supposedly is more through and has optional insurance ..

In Connecticut, water, sewer and town liens stay with the property.  Didn't you do a title search and get title insurance?

RCN Capital (S Windsor) or Sachems Capital (Branford)?

They never try to give a 'good deal'.   They want market value and to sell in a reasonable amount of time.  Several years ago they wanted to assure they sold quickly, and under-priced slightly to keep the inventory moving quickly to prevent a bottleneck of too much inventory they couldn't handle.  Now it is more manageable and they list 100-120% of appraised value.

I don't think you will be able to 'charge extra' for parking.  It may depend on what is normal for the area and how inconvenient the current set-up is.  If most rentals have off-street, then it might not have any return.  If most rentals do not have off-street, then without it you may have difficultly renting or have to rent at a reduced rate.  

If it's a downtown city location, then parking is definitely a premium feature .. but that's rarely the the case for west haven.

You can use your own title/closing agent in just about every REO transaction. They give fee title insurance if you use their title company, but its not required.

First of all, do not attempt this with REOs unless you are experienced and know exactly what your doing.

Transactional Funding is used to close on the property, then you immediately resell the property the same day.

REOs are available on the MLS and auction websites. They are a good source but I would say private off-market sales are a better deal.