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Updated about 5 years ago on . Most recent reply

Alex Lam's profile image
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Alex Lam
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Alex Lam
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Foreclosures

How much Less can you offer on REOS when purchasing with CASH?

Alex Lam
Posted

I am currently in search for my first deal, I have a few REOs on my list that I am looking at.. I have cash and proof of funds ready.. how much leverage do I have vs another that's going through conventional , FHA loans?

How much lower may I offer the lender on the property?

Thank you very much to those who give input!

Greatly appreciated

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Federico Gutierrez
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  • from Cleveland, OH
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Federico Gutierrez
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Federico Gutierrez
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  • Cleveland, OH
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Federico Gutierrez
  • Realtor
  • Cleveland, OH
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REO's usually won't qualify for FHA financing. You need to buy in CASH. And if the deal is good, you're going to get into multiple offers and paying over the asking price

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