Real estate agent Georgui Kassaev giving five tips to buyers who are interested in short sales and REO or (bank-owned real estate). <br /> <br />Are you thinking of buying a short sale or REO property? Here are some things to consider. <br /> <br />Since the purchase of short sales and REOs are subject to different constraints, not all buyers are good candidates for both types of distressed transactions. <br />Buyers should seek counsel from their agents on the differences between these types of transactions during their initial needs description. <br /> <br />In addition to talking about needs, wants, price, and location parameters, buyers need to be realistic and understand what they could be getting into. <br /> <br />Whether the buyer is considering a short sale or REO property, real estate owned by banks, these transactions share the following: <br /> <br />►Number one. Buyers must understand the process and realize they are not in control. <br />►Number two. Buyers must be willing to get pre-approved. <br />►Number three. Properties are sold as-is. <br />►Number four. Lenders/servicers will not approve an offer to purchase that contains a home-sale contingency. <br />►Number five. It can be difficult to get closing costs covered or cashback for the buyer. <br /> <br />Again my name is Georgui Kassaev and if you have more questions about purchasing real estate owned or foreclosure, short sales. <br />Please visit my website for my contact info and also tools and tips at http://MyAthensRealtor.com <br />Thank you very much and you have a great day. <br /> <br />https://www.myathensrealtor.com/five-tips-for-buyers-interested-in-short-sales-and-reos/ <br />https://youtu.be/h3HJSZ2D3hM
