Will Credit Union Accept REO Bid less than - Posted by Mike

Real Estate Investing
1

Posted by Ronald * Starr(in No CA0 on September 17, 2003 at 17:13:54:

Mike----------------

CUs are one of the best sources for lender-owned properties.

They may accept less. Once it gets listed and out on the MLS, doyou suppose it will sell quickly at their asking price?

How does the current price seem to you?

You might want to call up or walk in and talk to person handling the property and feel them out. Person to person is often better than paper to person. Suggest a price that is even lower than you would be willing to pay and watch for the reaction. Be prepared to write up an offer immediately. If you are in their office, be prepapred to write up the offer immediately and give them a check for the earnest money deposit.

Good Investing****Ron Starr

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Will Credit Union Accept REO Bid less than - Posted by Mike

Posted by Mike on September 17, 2003 at 12:05:20:

Found a promising REO property with small local credit union that has not yet been listed with a broker. The bid package states a “minimum” bid. On an REO, will the credit union likely stick to the minimum bid as stated?

Other ideas or suggestions to get the best bang for the buck on a local REO not listed with realtor?

Thanks,

Mike