Deutsche Bank REOs?

[Anonymous]

Does anyone have any experience with buying a property owned by Deutsche Bank?  I'd like to know what to expect.

Are they willing to have any sort of concessions, such as helping with closing costs, etc?

[BrianB_The_Loan_Professor]

I cannot comment on this specific bank but will say Most REO's allow for a closing cost credits

Brian

[Anonymous]

I bought a REO from them in September.  they were very slow to respond, but were fine with closing cost requests.  that said, at least in our case, they expect the offer to take that into effect.  If you go in asking 280+ costs for a house lisitng at 300 they will not do it unless the house has had no interest.  We ended up paying full asking price but getting in the end, close to 18K in concessions.  We started out bidding 310K + the 18K (9600 ameridream and all closing costs.)

the asking price was 320K....4 bed, 3 ba 2 car garage pool house in Temecula, Ca.  2600Sq Ft.

[Anonymous]

Thank you, that is exactly the kind of information I was looking for.

I'd be interested in hearing anyone else's experiences, too!

[Anonymous]

Can I ask how long did it take you from start to finish?  And who did you deal with, i.e. the bank itself, their mortgage company called Central Mortgage Company, or a realtor that had their listing?

[DallasLoanGuy]

Ask your realtor..... they might have experience with this bank

[Anonymous]

I bought a condo from them. It was a great deal. 20% under the price of similar sold units. There was another buyer and the sale fell through the day prior to close. I jumped on it and they paid my closing costs $7500 and I closed in 20 days.

[Anonymous]

We closed back in jan and we had no problems with them at all. We asked for full closing,Gate repair,Warranty and a few other things and they responded back and accepted our offer as-is the same day.