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Buying REO from Selene Finance
Hi, I wanted to know if anyone on here has purchased a REO from Selene Finance?
How did it go? I put an offer in on one of their properties and they countered but no where close to my offer. We went back and forth a couple of times but I feel the price is still to high. The property has been on the market for 90+ days. Seller has not dropped the listing price. As far as I know, there are no other acceptable bids. Any advice? Thanks.
Jason, thanks for your response. I plan on waiting this one out for now.
Anyone specifically deal with Selene Finance?
#1 All Forums Contributor
- Lender
- Lake Oswego OR Summerlin, NV
- 60,495
- Votes |
- 40,950
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#1 All Forums Contributor
- Lender
- Lake Oswego OR Summerlin, NV
quick google search and look at their website and it looks like they are a servicer.. so probably just taking marching orders from whatever lender investor or bank owns the asset.
I do a lot of work with Selene finance as contractor. I’ve never bought from them but do know that they do move a lot of REO inventory.
It really depends on the specific property. I’ve seen them lower their price by 50k just to move a house but I’ve also seen them stick to their guns and hold a property and not move one bit. It really depends on what their numbers look like.
Sorry this isn’t anymore help. Let me know if you have any questions for me
We actually just looked at a house that we have been interested in and it's owned by selene finance they bought it for $97500 but are selling for 137500 and no improvrments have been done. It sounds a lot to me like they hold onto their houses to drive up their stocks....anyone remember the housing crisis back in 2002-2003? Those banks did the same thing. My advice? Find another housr...sorry. that's what we are doing
#3 All Forums Contributor
- Investor
- Virginia
@Jennifer Hobbs
Where do they list their REO's ?
