Browsing: bank-REO

Investor Financing & Creative REI businessman-laptop
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For the last three years I’ve been pursuing REO properties that are listed on the…

Real Estate Wholesaling real estate REO wholesaling questions
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I’ve been in the REO wholesaling arena for several years now, and as a result,…

Real Estate Wholesaling
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This article is part 2 in a 5 part series where I will explain the various methods available for closing REO wholesale deals and getting around the bank’s “No Assignment” clause.

Using the Quitclaim Deed Method to Wholesale Real Estate

Last week, I explained the mechanics of using a simultaneous closing, and this week I will discuss using the Quitclaim Deed Method to get your REO wholesale deals to the closing table.

When using the Quitclaim Deed Method, you will be adding your end buyer onto the purchase contract that you have with the bank, and then giving them a quit claim deed after closing in exchange for your wholesale fee.

Investor Financing & Creative REI getting accepted REO offers
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It’s no secret that there are some great deals available on the mls right now in the form of REOs and short sales. I’ve been wholesaling REOs off of the mls for the last two years, and have learned a thing or two about what the banks are looking for in an offer.

Whether you are trying to get the bank to give you a substantial discount off of list price, or you want to snag a great deal that just hit the mls, implementing the following five strategies will greatly increase your chances of getting an accepted offer.

1) Make Cash Offers

When I first started going after REO properties, I was submitting a pre-qualification letter from a hard money lender with my offers, and using a financing contingency.

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