Reo Conventions
Reo Conventions
Which offers will tend to be accepted by the REO listing agent/seller? (see examples inside)?
Say, this REO property is listed at $260K. There are dozen of offer submitted within 3 days. Which of the following offers will the bank (seller) accept? (All buyers are Pre-approved by the lender.)
Offer A:
$325K, FICO 740, 15% Down $48,750, FHA loan.
Inspection contengency removal in 17 days, 30 day escorw.
Offer B:
320K, FICO 792, 20% Down $64,000, Convention loan.
Inspection contengency removal in 10 days,30 day escrow.
Offer C:
310K, FICO 800, 50% Down $155,000, Convention loan.
No loan/inspection contengency period. 45 day escrow.
Offer D:
300K CASH offer. Inspection contengency removal in 17 days, 45 day escrow.
Offer D:
There is a homework section of the site this appears to belong in the homework section.
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