are you guys tieing properties (REOs) up with before you Wholesale? Murphy [ Edited by Murphyj2000 on Date 08/23/2004 ]
Hey, I am not sure what you are planning to do with REO, but banks are not going to allow assignments, or "weasel clauses", etc on the contracts. They are also going to required a large (in the thousands) earnest money deposit.
All the REO's I've seen, the banks want full retail for, if not more. Heck, they're almost as bad as HUD in wanting full retail on junk.
Hey,
I am not sure what you are planning to do with REO, but banks are not going to allow assignments, or "weasel clauses", etc on the contracts. They are also going to required a large (in the thousands) earnest money deposit.
All the REO's I've seen, the banks want full retail for, if not more. Heck, they're almost as bad as HUD in wanting full retail on junk.