What do you think is your advantage (as measured in % discount from a similar non-REO transaction) to compensate for the risk in buying an “As Is” property with fewer contingencies? I think REOs are primarily profitable to those who pay cash and close with few (or no) contingencies. I think it is a transaction where the bank wants fast and certain payment for yielding on price. If they don’t yield well on price, it is no deal for a buyer.
