I have been working with Investor’s buying Bank Owned properties for a while now. I have a lot of great tips for you. One important thing is, when you are investing in a hot area you will notice when your Broker sends an offer into the Bank. The Bank then will ask for a Highest and Best form. One important thing when dealing with Banks is they don’t except escalation clauses. Which is a form 35E MLS form. So if you are working with a Broker and they tell you that you might need to go in higher and sign an escalation form. Your Broker needs to read the Banks Addendum. You need to make sure that you know your strike point on the purchase of your Bank Owned property.
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