Get Your Real Estate Agents to Find the Diamonds in the Rough!!!!

Get Your Real Estate Agents to Find the Diamonds in the Rough!!!!

In some cases, you are going to be dealing with a real estate that is an experienced investor themselves or working for other real estate investors too.  In that case, they will have a pretty good idea of what to look for in the MLS.  .  Yet in other cases, you might need to teach your real estate as to what to look for on the MLS to help you find the best deals. 

The MLS has many fields that a real estate can select to narrow down the results list on a search.  They can also perform a search for keywords too.  Some of the keywords that they search forto find bank owned properties that have been on the market for a bit  would be the following:

  • As is
  • Vacant
  • Price Reduced
  • Multiple Price Changes
  • Bank Owned or Lender Owned
  • REO
  • Fixer Upper
  • Needs TLC
  • Handyman Special
  • EZ to Show or Easy to show
  • Need Offer
  • No SPDS stands for – Seller’s Property Disclosure Statement or  no CLUE stands for – Claim Loss Underwriting Exchange or Comprehensive Loss Underwriting Exchange (depends on the state)

Some of the keywords that they search for to find Short Sales would be the following:

  • 3rd party approval
  • Short sale possible
  • Short sale approved
  • List price approved
  • Offer subject to lender approval
  • As Is
  • Price reduced
  • Multiple Price changes

You will find that any of these keywords or a combintion of them will lead you to distressed properties that you can wholesale easily. These keywords will lead you to distressed properties that will have motivated sellers tied to them, so you can submit your wholesale offers and have a greater chance of these offers being accepted.

June 23, 2011 / 2 Comments / by / in

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