Chances ar the property is assigned to an asset manager, who will then assign it to a Realtor. If you wanted to conduct some preliminary research, you could call an attorney to be sure that the title to the home is actually saleable. Many problems are arising regarding purchasing bank owned property. There were so many mortgages bought and sold, many recorded wrong, assignment dates are questioned. Many times the banks foreclose and cannot even prove they have the right. Be extra cautious when attempting to purchase a bank owned property.
Quick Note: I know you probably are tired of agents tellng you to work with a buyers agent. There is a reason for this. It is for your own protection.. to help you make the right choices and to protect you. Buyers agents are free ( usually). Great agents aren't just in this business for the quick buck, they sincerely love to help people and have long-sighted goals... i.e. if they treat you right, you will ultimately refer your family and friends.
Call me if you have further questions... no pressure.
Lori Lincoln 509-878-0917 - Fri Nov 20 2009, 04:29