How to Buy Bank Owned Properties
Glen Gallucci
July 12, 2008
There is an abundance of "Bank Owned" property, (Otherwise known as an REO's). By understanding the process in making offers on REO's, you will reduce the stress on everyone involved and greatly increase your odds of completing a successful transaction. The Listing Agent (REO Broker) is simply a conduit between the Buyer's agent (if your using a real estate agent) or you and the Seller. An important thing to remember is that the Listing Agent does not have any authority, power or say as to what the terms of the sale would be and has little or no negotiating power or influence.
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