How to Buy a Bank Owned Home
Posted on October 6th, 2009 by Jonathan Dalton
A quick bank owned home story.
Home is priced at $170,000. (Price changed to protect the innocent.) Bank receives and rejects an offer at $155,000 about a month ago. Today, the bank reduced the price of said home to $160,000.
Moral of the story? Lenders are idiots when it comes to selling homes.
And speaking of which, I bring you this absolute gem from the brilliant Kris Berg of San Diego Castles Realty. If you’ve ever attempted to purchase a bank owned home, this ought to sound familiar. And if you haven’t, here’s a great primer.
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For sure there are some lenders with a bad skill of selling… This is a great example… And nice video too