Up-date on The Competition for Bank Owned Homes

November 10, 2009

As I mentioned in a previous blog titled “Competition for Bank Owned Homes Increasing” the perfect example just took place. 782 Colorado in the Tahoe Keys was on the market for less than 24 hours and received multiple offers. The asset manager cut off bids at 5pm. I cannot emphasize enough how important it is to know your criteria, be qualified and be ready to strike fast when the right home hits the market. Your Realtor should know by watching the NOD (notice of default) and NOT (notice of trustee sale) lists for up-coming foreclosures and alerting you as to the homes that might fit your search criteria.

 

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