Get Pre-Approved for your Loan!

1.What is your first step when looking to buy a bank owned (REO) property? Get pre-approved for your loan. Getting pre-qualified is not enough. Getting pre- approved means you have submitted all required documents for your loan. Your bank statements, tax return or w-2 forms and so on.

You can’t even bid or make an offer on an REO if you don’t have your pre-approval letter.
2. Second Step – find a GOOD agent who will work hard for you. If you don’t have a good agent, then I will be glad to work work with you.

3. Get educated! Watch videos, read articles explore this site and come back later as more info will be added. Your agent should give you comparable sales on a property you want to make an offer on.

4. Go to open houses and see what’s out there. Watch this site for a list of my open houses.

Buying a Bank Foreclosure property can be tough. They may be multiple bids on some properties. Banks may price them low to cause a bidding war. So be prepared – you have to fight for the best values.