Posted by Dan on March 18, 2002 at 12:48:05:
I have read so much on RE Investment and I am excited about the opportunities.
I have a few questions on Bank REO Properties and how to effectively manage the opportunities. I have 2 investors who wish to fund my purchases through the banks that buy their foreclosed properties at auction. We have a local bank that will handle our loans for their properties but now comes the questions.
- Can we use this bank to provide us with other property opportunities at other banks?
- Will we need to do title searches and obtain title insurance even though the bank is the property owner?
- Can we continue to use our current bank to fund our purchases or are we obligated to use the banks that own the properties?
I look forward to any/all imput that any of you can give. As soon as we begin the process I will keep you informed as to how we do.