Financing & REOs
If you have every made an offer on a REO or Bank Owned Property one of the financing issues that may come up is that the Bank that owns the property may want you to get cross-qualified with their bank for the loan. It is not unusual for a seller to want to use their services such as Escrow & Title when you purchase, that is common. But it is not legal for the bank to require you to use their financing but it does go a long way in getting your offer accepted. They normally will offer you a free credit report or appraisal if you use them. Remember; always try to give yourself the best chance of getting your offer accepted by separating yourself from the other buyers. All other things being equal in your offer, using the bank’s loan officer for the loan may be just what gets you the house of your dreams! For more information on purchasing REO or Bank Owned Properties in the San Diego County Area Call Linkpin Realty at 619-749-8726. www.linkpinrealty.com
Submitted by Frank Giaimo Broker Associate Linkpin Realty
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