REO Listings and Investors in Lexington South Carolina
I have been fortunate enough to get a pre listing list of REOs in Lexington SC. I use these to advertise for buyer leads. The response is tremendous in terms of leads but I am finding I field a lot of emails and phone calls from want to be investors. I have recently started to ask for Proof of Funds and Letters of Intent. The true investors are looking for good deals and I have no problem getting this information from them. But 90% of the calls the investor has no clue because he just finished Carleton Sheets program. So if this is something you are working I hope this bit of advice helps!
Anyhow I am posting this to let you know most of the Banks I have contacted are ready and willing to give out these REO lists. This is a great way to build investor leads and the savvy buyer leads. And you can get a few listings from the bank!
Laura Jefferson
Chip Jefferson
Laura - Thanks for the information. We have a lot of REO properties in my area, as well.
Most banks have a loss mitigation department that handles the homes going to Master in Equity sales. They are the friends you want to know. I have had so much dealings with lenders after 15 years in the mortgage end they knew me so I was a shoe in. The same department that handles short sales. Personal contact and persistence will pay off. Keep calling and ask for the person over the department. Explain to them you would like to market and do some BPO work on there REOs. Then keep in touch via email.
The down side is they want them turned quickly so don't do but a few at the time that you can market and submit offers with.
Also REOtrans.com sign up.
Laura,
I just stopped over to say WELCOME to Active Rain! Thanks for commenting on my blog. (I'm an old CIU and USC Columbia Grad from the dark ages) Subscribe to my blog, and I'll do my best to make you glad you did!
Mike in Tucson
Hi Laura,
Our MLS has rules against marketing listings before they are listed.
But the banks do it all the time!
Crazy...
Phil