THINKING ABOUT BUYING A BANK OWNED FORECLOSURE (REO) PROPERTY?

Does your agent have years of experience in selling REO properties?

Does your agent know the REO system?

Has your agent worked directly with decision makers?

Does your agent know what REO properties are coming to the market and how they are priced?

Does your agent know what problems the property may have?

Is your agent investor friendly and understand MAO, ARV, the time/value of money, and the cost of hard money or private money?

Is your agent “deal oriented” and want you to be successful?

Is your agent realistic about the market or do they see the world through the rear-view mirror?

Does your agent know the advantages of buying REO property and how to maximize them?

Does your agent know the negatives of buying REO property and how to avoid them?

Does your agent know when a price change is coming?

Can you afford to work with anyone except Phil?