Posted by Randy on October 01, 2003 at 12:59:46:
You?re getting the asking price from the ?Realtor?. Most REO?s when listed with a realtor the agent pulls the comps just like you did, and then takes 85% LTV as the list price. Many banks are selling their REO property just like any other seller, not just for the defaulted balance + costs. If you can demonstrate a good reason for offering less, do so?never know they might take it.
HELP Please! - Posted by Sherry
Posted by Sherry on October 01, 2003 at 12:50:31:
A listed REO: Realtor says it’s been vacant about 6-8months. Neighbors say a year. The listed price is $149,900. The comps in the area show between $133k-$173k.
I was running some comps on a different property and the address for the REO came up. It says that it was last sold 01/16/03 for $124,800???
#1 Why do I seem to be getting a run around with the date?
#2 IF the house sold in Jan for that, then WHY would the bank be trying to get more???
this is all very confusing… WHERE can I find out the correct info on this REO?