Some of the time they will still go for it even though the reduction in price is a larger percentage of the initial asking price.Offer what you want to offer and see what the response is.John Corey

Asking for proof of funds is to verify that the buyer has the ability to close the deal.

Cross out anything on the documents that says 'second home' and initial the forms.The crime really starts when you sign the documents.

After they accept your initial offer, then make your GC inspection appointments.

We treat then at our pleasure or error.I think that at least 2 majors will restate their earnings and there is more blood to flow.I personally know of 2 top 20 ML's who currently dispose of REO's via on line sites who, because of uncontrolable volume are considering trying bulk purshase, small initially but .....A third person I/we work with is personally aware of a significant 3rd I am aware of at least one other to my comfort.I don't wish to argue all the good stuff you chaps articulated.

Good call looking it up until you verify.

I like it.To address the initial post...If one is property as an investment you really need to decide what you want to accomplish.

Second you need to verify all the information and then you need to run the numbers.

:roll: But I am still fixing them up and selling them the thing is I am planning a hold time of 8-12 months when I purchase these and just factor it into the initial purchase price.

From one that speaks to people in foreclosure on regular basis, one repeating emotional trend I see is embarrassment---in general, folks in this position often act too late because they are embarrassed (pride is another good emotional anchor) with admitting failure...Although I don't market to these individuals, I understand the mindset all to well and believe any marketing campaign to these folks should include the following components:- Discretion/Privacy: Give them an opportunity to learn more without revealing themselves initially---offer a white paper or recorded info-message which would allow these distressed homeowners to learn without the need to speak to somebody. - Hope: Too many marketers are appealing to fear---although fear is a compelling emotional trigger, the majority of people don't want to be reminded what they will lose, they want to be reassured that there is a chance for recovery