End Of Year Advatange?
Hi there,
My realtor provided me with a couple MLS listings for REO owned properties. I was wondering is there any advantage to the bank to get these things sold this year? Obviously if yes, I'm thinking to find all REOs listed and make low ball offers.
I thought I heard its better if REOs don't sell in the first year, because then the bank can write off in the first year, then collect as profit when they sell the second year? If that is the case, then I'll wait till the first of the year and make my offers.
Thanks in advance for the help. It is much appreciated.
Jessica 
Banks generally like to get these liabilities off there books for year-end reporting. They are not really looking for the profit but rather to remove the liability.
Shouldn't you check to see if this bank's fiscal year ends December 31?
There is certainly a benefit for them to get these houses off their books. It determines how much they can lend for homes next year.
Banks refuse low ball offers all year long. Matbe you will find one that will accept. I hope you can
Good LUCK and HAPPY HOLIDAYS
Hope this helps some
Ted Jr
Couple of things:
A lot of banks do not have a Jan to Dec fiscal year.
There is an accounting concept that you income and expenses for one each project in the same reporting period. It is true that it is easier for accounting if banks sell properties quickly but I'm sure that the person handleing REO's doesn't care about the accounting.
However, there may be company policy or review periods that employees may be modivated to move properties because it shows better performance. This is stricly a business aspect.
Conclusion---try like you have always tried. You should look into yourself for the modivation rather to external factors. Self-modivation and drive is a characteristic that nearly all sucessful people have.