Buying REO from Selene Finance

[William Adams]

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 D.]

I don't know anything about Selene Finance but my advice is that if you have a purchase price to make a deal work, stick to it. If they aren't willing to move to your price, walk away. Maybe it become a deal in the future but for now, keep hunting.

[William Adams]

Jason, thanks for your response. I plan on waiting this one out for now. 

Anyone specifically deal with Selene Finance? 

[Jay Hinrichs]

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.

[Karl Lathus]

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

[Jennifer Hobbs]

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 

[Chris Seveney]

@Jennifer Hobbs

Where do they list their REO's ?