I Used To Love REO's

I just had the REO from heck nightmare with some insane per diem issues. I anted to spread the word of caution around to anyone who is listening.

Believing that there could be more problems ahead if we did not move forward, we continued on with our offer. This is why I am lucky to have experience in this field. I have witnessed this happen with several other clients, and I just reassure them to continue on with what their responsibilities, and forget about the bank for a moment.

As long as we can show the delay is not of our making, we can get out of paying the per Diem. I made sure our inspections were all done within 10 days and I made sure the listing agent had the termite inspection done also. Since my buyer is paying cash, the appraisal was not an issue. On a property where the buyer is getting a loan, you need to be on the phone with the lender every step of the way to get the appraisal done before the contingency period is up.

You don't want anything going wrong at the last minute if you can help it. You can't always get everything to go the way you would like, but if you do everything you can do, things tend to turn out OK. I always have to remind my clients that most banks don't really have any idea of what is going on at any given time. They seem to just flounder around in the hopes something will eventually happen.

It hasn't been uncommon for me in the last few years to witness banks doing something that is just out of sorts. You will rarely find a bank transaction that actually goes all the way through the process without a glitch. The key it to hire a bright, informed realtor to help you have a successful experience.

Author Info: A. Brynn has much experience shopping property listings plus real estate overall. Read her other articles on the internet.