REO Tour of Oceanside CA

On Saturday February 21, we held our second REO Tour, this time in Oceanside. We viewed 16 houses, most in good shape and cleaned out. We like 3 bedrooms minimum and don’t bother with condos/townhouses. The largest one we saw was a 7 bedroom assisted living house. It had originally been a 4 bedroom 2 story. Extra rooms were added onto the side of the house. The owner that was in foreclosure had bought it subject to and existing loan so the sale was contingent on the bank finding the first mortgage holder who was not the one in default. In that case you might imagine the bank does not like any properties sold subject to. We put in an all cash full list price offer on one of the houses. With 15 other offers, ours was not accepted. About 1/2 of the other houses now have pending offers. We will post results on those houses as we see the final sold prices.

NEXT REO TOUR:

Saturday March 21, 2009. To receive the sign up flyer and reserve your seat please email us at info@energywise properties.com