BENEFITS of BUYING REOs and SHORT SALES

A Short Sale means a property with a fair market value or asking price less than the loans outstanding against it. The difference between an REO and a Short Sale is that the home listed as a Short Sale is still owned by the homeowner who is trying to sell it before it gets foreclosed by the bank. Although Short Sales can result in good buys, they tend to take a long time (often 3+ months) for bank approval and are frequently approved for a higher price than the listing price or not approved at all. If you’re willing to gamble and can wait a long time, a Short Sale may work for you.

Personally, we recommend REOs, because the bank can make a decision on an offer relatively quickly and they can close in 30 days or less. It’s just a much more certain and predictable transaction. Search for REOs now.

The benefit of buying REOs and Short Sales through a qualified broker, like us, is that you can almost always be assured of a good price.

So how do you find these REOs and Short Sales? ContempREO.com has the most up-to-date and comprehensive list of REO's compiled multiple sources.

We even tell you who is listing the property. Although you can surely contact the agent who has them listed for sale, remember that the listing agent is representing the bank or the seller and is hired to get the highest price possible, and at terms favorable to the seller. We believe you are much better served by working with us to discuss your situation in confidence. Since the seller pays the commission, there is no extra cost to you. Also, by working with the listing agent, you will not be saving any money.

So what's the next step? Have some fun with this powerful website but before we can get serious about actually making an offer to buy one of these things, we need to talk. When we talk, we will discuss whether you are buying for investment or a home to live in. We will determine how much home you want to buy and what the monthly payments will be. We will then get a Loan Approval letter for you (The bank requires this when considering your offer to buy). After we have taken the time to talk, we will put our team to work at finding the right property for you.

Call us at 510-940-0400.

Thank you for considering us as your personal REO and Short Sale specialists.