All Forum Posts by: Jeff Warner

I've never done any of these types of deals so this is not based on experience, just a thought.

Any thoughts on using Hard $ to secure the REO deal, then wholesale it to your buyer? Is there a way to do a double close on a deal like this or would it have to be 2 separate transactions?

Does title seasoning comes into play on this type of transaction?

Anyone have experience with deals like this?

Joseph,

The FSBO's that i've dealt with will go along with what you put in your contract, I put $100.00 in my contracts to be held in escrow by the title company of my choice. I personally will not give the earnest money to the seller. It's just my opinion but I feel that truly motivated sellers should have no problem with a 3rd party holding the earnest money.

I have heard of Realtors asking for $500.00 - $1000 earnest money and righfully so....to many flakes in this world to tie up thousands of dollars for $10.00 earnest money. That's just my experience here in OR.

As long as your not on chex systems it should not be an issue to open an account. Poor credit should only affect your ability to get a loan.