How to purchase a REO – Foreclosure property without having to use a gun!!!

This has been one of the strangest markets that we have seen as of yet. With the buyers wanting to buy, but inventory being strapped – it has succeeded in the turning of this market onto its ear and back into a Sellers Market.

Not the Human Kind Either – The Banks and Investment companies that have Foreclosure Assets to Sell. At RE/MAX of Santa Clarita and RE/MAX of Valencia, we have Santa Clarita Real Estate at our fingertips. We have instituted several Real Estate Related options for you to check out at our mother site – Please feel free to call me and see what we have to offer: Real Estate Direct Phone: 877–977–REMAX(7362)

Here is my recommendation, if you are one of those buyers out there that have written multiple offers and been rejected, have faith and lets analyze your specific situation.

1. Are you an FHA Borrower or a VA borrower? – If you are, then this could be some of the reason your offers are not going too far – the banks love the conventional loans due to them not having to inject as much money to bring them to a “fha or va” standard before they close escrow. In fact, some of the banks will take a lower Conventional of 20% offer over FHA or VA, due to it probably going through with out having appraisal issues. How do you counter this, you are going to be patient and get with a Direct FHA or Direct VA Lender and develop a relationship with an Agent who is not scared to pitch you with the listing agent.

2. Are you utilizing a “seasoned” agent? This is a step that you might want to re-think. It is sometimes pitched that it is best to utilize the listing agent. I would counter with it is good to use your “own” agent. Whether it turns out to be the listing agent or someone – it is very important for you to have that “relationship” with the agent that you have represent you. It is nice going into battle knowing that you don’t have to worry about a thing. Especially when it comes to Real Estate Related matters and you not doing them on a daily basis as your agent should be.

3. Make sure you agent is not afraid of the phone. Choose someone to represent you that will keep calling and harassing the listing agent to make sure your offer is submitted and also looked at. That is all you can ask for – so make sure that your agent understands what is riding on this. It is much more than commission – it is where you are going to live.

There are a lot of folks out there that will try to coerce you into doing something that is Real Estate Related that you might not be ready for. Just make sure you hire the best representation that you can find and check out how they portrait themselves on the World Wide Web. Also see where they post themselves and if they write anything that sits well with your “world view”.