Profile picture for Mayra Espinosa

Mayra Espinosa

Agent

Real estate agent (11 years experience)

Specialties:
Buyer's Agent,
Listing Agent,
Foreclosure,
Short-Sale

Advice

  • (7 Contributions,
  • 1 Best Answers,
  • 0 Helpful)

Contributions are sorted newest to oldest.

Can I make a offer for bank owner house that still not on the market?

Answer

Buying a foreclosure or REO (Real Estate Owned) property before is available on the local multiple listings services not as easy. The banks are expecting to obtain the highest and best price for their REO's properties. After reprocessing the property through a foreclosure process, the Banks hire local real estate agents to market and sell their property. Working with a local real estate agent with experience on how to handle REO could be beneficial. Ask your agent to set up listing search, so when a bank owned property comes on the market you receive an email alert if not have the agent monitoring the listing in the area of interest. Good luck with your search! 

  (0)
I have requested in writting the bank desicion for a Short sale

Best Answer

I have assisted many homeowners and buyers with short Sale in the San Francisco Bay Area- San Mateo County, Santa Clara, etc. usually the banks do not send counters to short sales in writing. They send email or tell the agent who is negotiating the short sale about the counter offer. The Banks only send written  approval when they  approved the short sale. If the buyer does not agree to the counter from the bank just send a counter to the counter offer. It could be helpful it the buyer's agent send to the bank 3 active and 3 most recent sold properties in the neighborhood to justify offer price.   Good luck with that short sale!

  (0)