All Forum Posts by: Whitney Blaine

We bought a home 5 years ago. A total dive in a great area. It's been a great investment. One thing has always bothered me though. Nobody wanted the home because it needed so much work. The listing agent was friends with the owners of the house. The owners were bugged because they accepted an offer from us that they thought was too low. Then the realtor came back to us and said that someone else had made on offer on the home for the same amount we made, and if we wanted it we should offer more. we ended up paying what the owners wanted in the first place. I was told later by a friend, that the realtor really didn't have anyone else interested in the property! We never confronted him about this.

How can you know for sure if someone is really making another offer? What if this happens...is there anything you can do?

yeah, I tried that, nothing in my area. Thanks though.

What is the best way to find REO's. I live in Santa Barbara Ca, I want to find REO's here to invest in. How do I get started?

Anyone use realtytrac? They seem pretty good. I have tried them a few times...Have never been able to purchase a forclosure though. My experience has been when call the lender (the information realty trac provided) The guy told me, he was getting tons of calls for the same property i was calling on, and that he was not the lender, and didn't know why his name was posted on the site)

Realty trac is better than most out there, but the info isn't always the most current... and I have found a few fake listings.

Why is it so hard to find foreclosures?

How do you get a good deal on an REO that has already been listed with an agent? I know of a home that has been listed for months. It is bank owned...It is listed for 500k over what the bank bought it back for. It is fair market price How can I get a good deal on it. Can I go to the bank and offer a little more than what they paid? Is that impossible now because it is listed? Any tips or advice would be great!