Once the property has been foreclosed upon, it's just like buying from "Harry homeowner" as far leins, etc. The have to give the buyer a clear and marketable title. As far as tenants, almost all of the REO properties sold are vacant, the only time you have to worry about evicting someowne is if you buy at the auction sale/courthouse.
Leading market indicators point to this trend continuing for 30-36 more months in most markets that are experiencing huge declines, so be patient.
Denver leads the nation in foreclosures, followed by Neveda, etc.
Jack, if you want to buy I'll hook you up w/the largest REO broker in your area. And no I'm not looking for a referral fee. Send me an e-mail on where your looking. Cash vs financing is the only advatage the cash buyers has( if 2 offers are in @ the same time) most of the time finance contigencies are not accepted, especially if the buyer is an investor.
GL
