“Seems like making an all cash offer, at a fair price, with a sub 2 week closing is the only way to get one of the few quality REO properties.”
This is how we got our house except we did 17 days. If you are paying cash in North County Coastal, the courthouse auction is the hot ticket right now and frankly some of the deals being made are jaw-dropping but getting a deal like that is probably a lot of work and luck.
I think the standard 20% down buyer can do much better at short sales than REOs but you have to have the patience to see things through. If you look at the shorts that do make it to closing many of them close below market price. Some of the REOs that come on the market overpriced are also opportunities if you can catch the bank at the right time.
