How can I buy an REO that need some Major repair and some minor repairs?I am Looking at a nice 4 bed 2.5 bath house in a nice area. however, both bathrooms have had the baths rip out and som holes in the walls. In addition, some windows are cracked and there is some torn screens too. Otherwise the property is in pretty good shape. Was told by the bank that owns the REO I couldn't get a FHA 203k loan on the property as that was only for minor repairs, like painting. Said the only way I could get it was to pay cash for it and the repairs. Said the bank was probably pricing the property for a cash investor to buy and flip it for a good profit.November 08 2010 - Aston00YesReport a ProblemProblemSelect oneOffensive contentIrrelevant contentSpam (pure self-promotion)OtherDetailsYour emailPlease enter a valid email address.Submit CancelContent flaggedWe will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.We're sorry. This service is temporarily unavailable. Please come back later and try again.