REO Paper Work?
When you buy a REO who handles the paper work who represents you as the buyer - there is no real estate involved - so what happens if they accept my offer - what can I expect next and how should I handle it ?
Good question! I have a very close friend who happens to be a realtor. She has agreed to handle my paperwork and closing for first dibs on listing the property when I'm ready to sell.
I'd like to throw in a question if I may. Typically, how flexible are banks concerning the wording of a contract as far as an exit stratedgy for the buyer? Ex- 50k subject to roof inspection and termite inspection. Or do the banks(in genreal) want a cash contract, no contigencies? Also, I would need to go through a lender for financing, is the type of loan I get what determines the amount of "seasoning" required?
Thanks!
Sickdog