All Forum Posts by: Rob Leonard

Thank you Jake for your insight and advise. To answer your question of buying agent, I never go to court without a lawyer. Your last two questions will help immensely.
Jon, I am grateful for your time and typing and letting me pick your brain. You hit the nail on the head with the deal reasoning. Your advise is invaluable. You have pointed me in the right direction. Now I will get busy with my search of various sources.
I am that type of student who reads the chapter before the lesson the next day, so I can follow the teacher as to learn more. Jon I can see you have the patience of a professional angler. Which results in trophy catches.
I wish both of you all success in your real estate endeavors.
If I need more advise. I will be back to this source in the future.

Thank you Jon for your response. The home is for sale with an agent. Here are the details. Price 290,000. Zillow.com estimates at 221,000. The home sold for 100,000 back in 1997. Title in the same name as in "97", till put into Trustees in 2009.
Here was my line of thinking, I was looking to make an offer below market value. I thought if I had a rough or exact amount the bank needed to recuperate, I might be able to get a deal. Is this the wrong approach. Or is there some percentage calculation that an investor would offer based on above information?
I like the Flying Phoenix. Great imagery!

Good day to all,

I am a regular Joe looking to buy a house. After probing a little on the internet about a prospective home, I found out through RealtyTrac that the property is an REO. County records indicate the REO to be in title to a trustee. My question is. How do I track down the Beneficiary(bank) and how much is owed on the RE? Please explain as simply as possible.
Thank you for all information given!

Gratefully,
Rob