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lauren kaufman - September 27th, 2008 7:54 PM

As a realtor I have a client that would like to purchase bank owned properties. Where would I find these homes

William - September 19th, 2008 7:50 AM

If this is in foreclosure, and not pre, than you are looking at the bank to decide yes or no on the unit. With this, it's typically hard to do anything but a conventional loan with a 3-5% down payment, and even then, it may take some time to get approved by the bank, as it's a "short loan", which means, the selling price (offer) is less than the worth of the property.

I would recommend discussing this with an agent in your area. They will know how to approach a Short Sale.


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