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Saturday, September 12, 2009

Finding Buyers For REO Deals

By Jerome Pennix

The process is a long one after a property is foreclosed by a lender. The banks take weeks if not months after foreclosure to organize their paperwork together, do evictions and minimal cleaning and make the assignments to the real estate agents who they have hired to list their properties. But the time of clean up and eviction is not a problem for the savvy investor, it is an opportunity to find buyers so that these properties can sell almost instantly as you get them under contract.

REOGoldMiner.com is the best site to research and valuate these REO deals. In order to turn these deals into money, we recommend an investor begin the process of rounding up buyers as soon as the house is under contract. Videos, photos and massive emails are a few ways to attract your potential buyers.

Whenever you advertise your properties use photos or better yet video. Ill get to more video in a minute. This tends to get the buyer serious before they visit the property. Even for buyers of a 100K home, they like to see pictures and it helps the buyer make an emotional connection. Investors and the individual buyer now search the internet to find homes that they can get serious about buying. It is very important to give them enough information to make a decision.

Another effective tool REOGoldMiner.com suggest videoing the property. Taking video has expanded on the process for buyers when they are searching the web. If you can desplay to the buyer the property in detail by exposing the floor plan that photos can not, then the buyer can make a more qualified decision on what they need to look for when they see the house to make the decision process of a yes or no faster. Video on the internet is the newest, latest and greatest method of advertising your properties for sale.

Lastly, getting a list of potential buyers is also another must in the market of bank owned houses. Initiating the action before the house sits on the market for long is monumental for the REO investor. If you think about 10 years ago in the real estate market, buyers came to listing agents to see what they had for sale. Many buyers still do the identical thing even though they have access to the internet and the listings. But, if you have a list already developed of potential buyers it will get your property to sell much faster. - 23199

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