If by flipping, you mean assigning your contract, then no. Almost all bank purchase agreements state that this is a no-no. These can be great deals, but REO's require money to buy. Remember the saying, "doesn't have to be your money, and it may not take much, but it needs to be green and fast." You'll get a much better price and response from banks offering all cash and fast closing.
If by flipping, you mean assigning your contract, then no. Almost all bank purchase agreements state that this is a no-no. These can be great deals, but REO's require money to buy. Remember the saying, "doesn't have to be your money, and it may not take much, but it needs to be green and fast." You'll get a much better price and response from banks offering all cash and fast closing.
Roger
Thanks
very true ... I learned the the hard way. REOs need proof of funds .