Thanks all, it really help to get more perspective.
SD, she said the bank wanted to see proof of funds, 30 day escrow (we/our agent stupidly put down 45, I even said to him, “Really?
For an REO?”), and our offer came in very late. These very well may be legitimate, although for example, she did not indicate proof of funds was required before hand. Anyways, done deal, we gotta be smarter next time.
Bearishgurl, we aren’t seeking out REOs in particular, for the reasons you mention. I just think there is a reasonable chance we’ll see another REO in the future that we like. Pickings are pretty slim in the areas (NC Coastal) and ranges we are looking at.
TG, Thanks for reminding me, I will definitely go read those again. I skimmed them at the time, thinking it would 3 years before I would be in your shoes.
