How to Buy a Bank Owned Home

avatarthumbnail.jpgA quick bank owned home story.

Home is priced at $170,000. (Price changed to protect the innocent.) Bank receives and rejects an offer at $155,000 about a month ago. Today, the bank reduced the price of said home to $160,000.

Moral of the story? Lenders are idiots when it comes to selling homes.

And speaking of which, I bring you this absolute gem from the brilliant Kris Berg of San Diego Castles Realty. If you’ve ever attempted to purchase a bank owned home, this ought to sound familiar. And if you haven’t, here’s a great primer.

[tags]Phoenix real estate[/tags]

About Jonathan

Jonathan Dalton is a 30-plus-year resident of the Valley and has been helping folks buy and sell homes since 2004. He can be reached at 602-502-9693 or info at allphoenixrealestate.com.

  • For sure there are some lenders with a bad skill of selling… This is a great example… And nice video too