Realtytrac.com and REO pricing

[20something RE Guy]

Some banks have special inhouse financing for their REOs.....

[sgroup]

I have not heard of banks financing the REO's in my research I have done so far. I am interested in getting in on the investing side of REO's but have seen a lot of mixed advice and opinions on if there is any money to be made.

[bogart]

Realtytrac.com has a free 7-Day trial but I've never tried it.

[Jeff O]

As an asset manager I ran into a few banks that may offer to finance a property that they just took back into REO, although a majority of them will not.

They tend to feel it is a conflict of interest.

Also the price you see on realtytrac is the list price the bank has decided to list the property at.

If it is that far under market - I would suggest you find a buyer asap and put in an offer.

Thanks

[seattle realtor]

Not saying people should always go this route, but if you want a deal you're more likely to get a better deal through a short sale than an REO. Short sale's aren't necessarily preapproved and tend to take longer on the flip side. Click here for more info on distressed real estate terms.