Posts Tagged ‘ reo sales ’

Top 5 ½ Issues With REO Sales Revealed

I’ve sold a ton of REOs (Real Estate Owned homes – foreclosures) to first-time homebuyers – many of whom I’ve met through HomeGain.com. Before we start looking at homes, I take time to meet with them and explain the entire process in as much detail as necessary. I hate surprises, and I’ve discovered buyers don’t like them either. I want my clients to fully understand the process so they know what to expect once we hit the streets.

In the process, I’ve discovered a sad truth. No amount of discussion or explanation ahead of time can adequately prepare prospective buyers for the process of trying to buy an REO in the current market.

I recently came across a video that so perfectly sums up the process of buying an REO – I decided I have to share it with you. As I watched it for the first time, I discovered I was unsure how to respond … should I laugh … or cry …

You decide.

For additional musings on REOs, also read:

  1. Top 10 Things I HATE About REOs: AND 3 Startling Consequences
  2. How To Buy An REO – Top 17 Questions Answered
  3. Bank Tactics Causing Repeat Of Crash Conditions in San Francisco Bay Area

Thanks to San Diego Castle Realty and Kris Berg for producing the video!

Watch the video on YouTube

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Posted by: Carl Medford on October 26th, 2009 under Buying or Selling a Home, Short Sales and Foreclosures

2 Comments »

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