REO Buyers: Get Pre-Qualified

Bank of America & Wells Fargo Pre-Qualification Central:
 
You should be aware at this point in the process of attempting to buy an REO (Foreclosure) property that there are some hoops you are required to jump through. Getting Pre-Qualified by the Bank whos property you are trying to purchase is an important part of the process. Bank of America & Wells Fargo both make it mandatory that you "double app" for the following 2 main reasons:
 
  1. They want to make absolutely sure that there is a valid loan in place for you and that you are qualified to purchase the REO property at the price you have offered. It costs the Banks a lot of money to manage and sell these properties and they are trying to avoid taking the home off the market during the Escrow period and then having a Buyer cancel because the loan fell through.
  2. They want to have an opportunity to earn your business by potentially being able to offer a better interest rate and loan product. Remember, though, that even though you are required to "double app" you may still use your original Lender for the purchase.
 
To Begin Your Online Application Please Click on the Appropriate Link Below:
 
     - Bank of America
 
     - Wells Fargo
 
Buyers & Agents:  A Complete Offer Contains the Following:
  1. CAR Contract - Including REO Advisory,
  2. Pre-Qualification Letter from Bank that is Servicing the REO (Wells Fargo or Bank of America),
  3. Proof of Funds Dated withing 30 days,
  4. Copy of Deposit Check

Re/Max of Valencia
25101 The Old Road
Stevenson Ranch, CA 91381
Each office independently owned and operated.