khayyam

if the property is foreclose then the bank will list it with a realtor. purchasing these properties are just like any other puchase except the owner is a bank and they will not warranty anything (you buy it as-is). i would suggest calling a couple of the name brokerages in the area and ask for their top reo agent. interview 4-5 of these agents and pick one to work with. these agents are very familiar with the reo/foreclosure market and they already have a relationship with the people at the banks. they can hold your hand through this process and negotiate the best deal for you (on their listings).

if you're looking for other good deals look up your local Real Estate Investor Association (REIA) and find out which investors are doing the most deals. they will have deals that they need to sell. they will have negotiate themselves a fantastic deal and can still sell it to you under market value so you get a great deal too! - Fri Nov 14 2008, 15:50