Quote:
Originally Posted by Vegas69
That's not true, I've sold a butt load of REO's over the past 5 years. You can even buy at the auctions with financing now. CASH is always king. BUT, the net to the bank in a short sale/reo is normally their primary concern. As long as the property is financable. Short sales are strickly a net game. They could care less if it's cash or financed. It's a debt negotiation and it's all about the bottom line to the lien holder's.
The deals almost always go cash and the lower end market can be investor heavy. I agree with that.
|
Here in the Bay Area every single REO I have seen has said "Cash offers only" on the MLS listing