What is an REO?

August 15, 2009 by Debbie · Leave a Comment 

Did you know that the bank or servicer will own the property in this scenario?
Your real estate agent or broker will negotiate this purchase for the buyer between a bank employee instead of an owner/seller).
Paperwork/Rules for Offer Submission: Standard purchase and sale agreements are used as well as the banks’ own addendums and disclosures. Offers [...]

FHA 203(k) Loans: Great for Buyers

August 10, 2009 by Debbie · Leave a Comment 

The FHA 203k Loan allows for the buyer to finance the cost of repairs needed on a property into their mortgage.  The repairs are done after closing so this is an advantage to the seller or bank that owns the property because they aren’t responsible for the repairs.  This is a great negotiating tool for the buyer who [...]