All Forum Posts by: Ed Beck

Absolutely move quicker! The banks are pricing the properties to sell, are already lower than the guy down the block, and they are all getting close to, if not more than asking in ALL cases. REO is all I do (list and sell) throughout northern NJ. You can't sit on the sidelines and wait for price reductions, or that's where you'll always be...on the sidelines. If you're saavy and you think something is a good deal, it probably is. Don't go check it out without your checkbook and proof of funds/preapproval because by the time you go and get those things...it'll be gone.

No Letters. No forms. Simply print a bank statement showing there are sufficient funds to make the transaction. You can white or black out the account number. A lot of investors purchase property in an LLC, or their wife's name or whatever and it isn't the name on the bank account. They will also accept a letter from a bank stating so-and-so has this much money in an account.