BANK REO and Sellers Assistance (contract, fund, repairs, worth) - Mortgages -Lenders, loans, financing, rates, foreclosures, short-sales, brokers, credit score, deed, lien, refinancing, borrowers - City-Data Forum

dangelo · 04-25-2008, 04:08 PM

Do banks ever do Sellers Assitance on REO's? Is this even worth putting in a contract?

I know they almost exclusively will fund repairs found from the inspection rather than contract to get them done. I'm not talking about this, I'm talking sellers assitance.

Trying to see if I should leave this out my contract plans for REO's and just factor what I would have asked into my initial offer.

Thanks D!

pghquest · 04-25-2008, 11:35 PM

Quote:

Originally Posted by dangelo

Do banks ever do Sellers Assitance on REO's? Is this even worth putting in a contract?

I know they almost exclusively will fund repairs found from the inspection rather than contract to get them done. I'm not talking about this, I'm talking sellers assitance.

Trying to see if I should leave this out my contract plans for REO's and just factor what I would have asked into my initial offer.

Thanks D!

Yes they do. Just closed on one last week with $15,000 in sellers assist.

Bazzwell · 04-26-2008, 01:27 AM

Yes. Rather common.