Getting contractor bids for REO

[Mike Lee]

I am a little confused. How does one go about this?

Do you try to get contractor bids before you make an offer?

If so, do you send contractors out to every house you checkout?

or do you have an idea of what the costs will be and after getting offer accepted you send out your contractors to get bids?

Any help is greatly appreciated.

Mike

[Steve Babiak]

Contractor bids can be performed during your inspection period - if you have one. At some point, you have to become somewhat skilled at estimating rehab costs (within reasonable differences compared to contractor bids), so that you know whether something is potentially a deal or not before you make an offer.