Which is Better REO Home vs. Short Sale

Profile picture for DBO4U
I am a 1st time buyer I would like to know is it better to try and buy an REO Home
or a short sale? In addition could I use my 1st time buyer certificate 3% dwn for either transaction?
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January 18 2009 - Pasadena
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Answers (2)

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Profile picture for Sheila Barrett
Reo is easier than a short sale. The bank already owns the property and they are the ones that have it for sale. It is usually as simple as putting an offer in on the property and the seller accepting or not.

Short sales are more complicated and take longer as more people are involved.
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January 18 2009
Profile picture for wetdawgs
One must evaluate the individual situation to know what is "better".   How do  you define better?    Best house for the money?     Least frustration in the buying process?  (If looking for this one, don't do either).


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January 18 2009
 

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