The onslaught of REO (bank-owned) listings in Hawaii comes with some challenges. If Realtors aren’t properly prepared to package their buyers’ offer, and aware of banks require, then what should be a relatively straight-forward process can be really challenging. Fortunately REO Agents and Certified Distressed Property Consultants at Hawaii Life are available and well-versed in the process of buying and selling REOs, Foreclosures and/or Short Sales. It’s not conventional real estate. It requires on-going training and education, tenacity, and experience.
These transactions aren’t easy. I couldn’t resist posting this viral cartoon that obviously stems from the frustration buyers have had around the country. It’s pretty funny, but we promise your experience won’t be like this…
If, after watching this video, you’re still interested :-) here’s a Gallery of REO Homes on Oahu.
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David Buck | Oct 20th, 2009
Love it. What I also love about bank owned properties vs. short sales is you know there isn’t a guessing game if you’re representing a buyer. Bank owned properties are typically priced to sell. You don’t have to wait 4-6 months to get a response…