I’m looking to buy a house.
How complicated is it to buy a REO, do I need an agent or can I just make an offer directly to the bank?
What are the up sides and down sides?
I know their Speedwagons were pretty popular in the 80s.
Yeah, I had one actually. I took it on the run and wanted to keep on lovin’ it, but couldn’t fight the feeling that it was time for me to fly, so I sold the damn thing.
Plus the mileage sucked.
Well!
When I win the lottery I hope you two won’t be expecting to receive 2 years salary!
The place my dad worked as a kid actually had an REO Speedwagon, but they had to junk it when they could no longer get parts for it at reasonable prices. As a matter of fact, it looked a lot like the picture posted by Bruce Ohnstad on this page except it had a red dump box on it. That page will ask you if you want to print for some odd reason. I think the one they had was a 1948 or 1949.
It’s not for the faint of heart. In fact, I can’t think of that many advantages at all. Feverish investor demand for REO means you can’t make lowball offers anymore.
Thread highjack trivia- REO was the second vehicle company started by Ransom E. Olds after Oldsmobile got bought out by General Motors.