Unfortunately, this video does depict truth about these bank owned homes. For the most part, the listing agent puts the home in the MLS at an unreasonable rate and it creates a frenzy to purchase the home.
Everyone thinks just because a home is bank owned, they will be getting a great deal, but this is not always true. Most of the time FHA buyers are not even considered which is wrong. The seller wants to get this house closed as soon as possible and not have to worry about all the FHA legalities and just plain and simply wants someone to pay all CASH. And, yes, there are many all cash buyers out there right now.
If you want a great deal, there are deals out there, but standard sales are still the best way to go if you can find one.
I am a realtor in the Inland Empire and have almost 30 years combined experience to help you with your real estate needs. I am a certified short sale specialist, have my GRI, my B.A, and CLHMS (Certified Luxury Home Marketing Specialist) designations all of this combined with my many years of being out in the field I am one of the hardest working agents you will find. I look forward to helping you, so give me a call at 951-204-1864 or send me an email at calljoan4ahome@gmail.com Looking forward to meeting you!
Joan Patterson and Associates 
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