Foreclosure in Lancaster>Question Details

Dreamhouse, Home Buyer in Lancaster, PA

How can someone contact Deutsche bank national trust company to make an offer on a foreclosure?

Asked by Dreamhouse, Lancaster, PA Tue Dec 27, 2011

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16
Do not believe these answers from Agents.I am a homeowner but got burnt by an agent years ago.There is not a day that goes by that I do not look at reo homes.I got educated on my own .You can call the Bank directly and talk to the person that handles foreclosures.You may have to make a couple calls because every bank branch does not handle foreclosures.They will even tell you the agent to contact about the foreclosure.You will need an agent in the end but these properties are a burden to the bank .Make an offer of what you think it is worth as all foreclosures are sold as is.We have purchased 3 foreclosures and the longer they wait to give me a yes or no the lower my offer goes.Stand your ground as there are plenty of foreclosures out there.
1 vote Thank Flag Link Mon Feb 20, 2012
Great information Barbara. I have a long history listing bank owned homes. The banks use a variety of methods to sell the reo inventory including listing in the MLS and auctions. There are some banks however that will not speak directly to the consumer regarding purchasing their assets. Other banks will. It all depends on who the bank is.
Flag Fri Aug 22, 2014
Very good advice
Flag Fri Sep 27, 2013
Were your homes an REO ?
Flag Tue Jun 5, 2012
there is a fantastic book on the subject of handling REO offers, buyers, and brokers called "REO BOOM" by Aram Shah & Tim Shah. They talk about "multiple offer monster" and how to deal with it along with the 5 most commonly made mistakes in the REO business. Check it out its a great read. It will really help you understand the behind the scenes bank process.
1 vote Thank Flag Link Tue Feb 14, 2012
IF you want to talk about Bank owner properties that are not listed

call the regional HQ and ask for the REO office or department - this is REAL ESTATE OWNED - they can sell properties not yet listed, they can do anything they please within their company rules, and they typically set many of them. - they are awarded for lowering the number of on-hand properties so sometimes they may be motivated

Keep fishing, call lots of regional hubs and offices. Call and prevent you are a local bank Jr manager, they will have no idea that you aren't - steel them you want the real estate owned department

" Hi this is Juan from the Lasalle street branch in Chicago and I was just wondering how to get in touch with the Real Estate Owned department " - works like a champ

if not try again tomorrow with a different name and branch
1 vote Thank Flag Link Wed Jan 25, 2012
If your interested in buying a foreclosure, know what type it is... For instance some are exclusive to cash only buyers while some are buyer ready for 3.5% down...
It can be very frustrating when you are interested in a foreclosure, know who the lender is and STILL not get anywhere with the process..
If you think about it..... an attorney that works for the lender/bank... can not charge anyone for taking inquiry calls... this is why it generally goes through an asset manager and with a realtor team to be the customer point of contact..
Foreclosures can be great for the right buyer and many sellers are offering great deals too!
0 votes Thank Flag Link Thu Jun 19, 2014
The property will be listed, they all are. I've never seen anyone be able to go directly to the institution. Chances are highly likely that it's already been assigned and being worked on. If there is a big REO listed in the area, or two or three, you might call them and ask. Otherwise, wait until it hits MLS'
Lisa Wetzel and Jim Valentine

RE/MAX Realty Affiliates
1320 Hwy 395
Gardnerville, NV 89410
775-781-5472 Lisa
0 votes Thank Flag Link Tue Jun 10, 2014
Banks place their property interests in the hands of the professionals....realtors. They do not
usually entertain being contacted by people fishing for a bargain.

Contacting a local real estate professional is your best course of action.

Good luck,

Bill
0 votes Thank Flag Link Tue Jun 10, 2014
Hi, I have read some of the previous answers and I am sorry for the lady who 'got burned' by a Realtor in the past but please don't paint us all with the same brush. I made one simple phone call and have the details you will need if you would like to contact me I will be happy to pass them on. Cell phone is 407-729-1193 or Liz@LizShelby.com
0 votes Thank Flag Link Wed May 7, 2014
You've heard of MURPHY's LAW, and all the permutations.
Well, I want to go down in history for inventing THOMAS' LAW:
This states that you can argue and even refute someone's statement by taking some minute, insignificant detail and proving it wrong:
This is like someone staing; "The Bomb was dropped on Hiroshima on August 6th at 9:45 am."
And somebody says; "no, that's wrong. it was at 9:47 am!"

It may have happened, that some Bank did talk to an individual about an REO!
It may have actually happened!
0 votes Thank Flag Link Sat Aug 10, 2013
....but they were referred to the listing agent.
I don't think the bank cares to chat with the buyer.
Flag Wed May 7, 2014
Propery----9021 Pleasant Hill RD. Either---Knoxville,Tn.37924 or Strawberry Plains,Tn. ---last owner was -Tim Laycock---Sale price /???? I live in area----investment propery for allencloninger@yahoo.com C-ph-865-6799994---
0 votes Thank Flag Link Fri Mar 15, 2013
You can't. Deutche Bank isn't interested in calls from prospective buyers.

However, contact a local Realtor. If the foreclosure is on the market, you'd make an offer through your Realtor.

Hope that helps.
0 votes Thank Flag Link Tue Dec 27, 2011
Don Tepper, Real Estate Pro in Fairfax, VA
MVP'08
Contact
Dreamhouse,
You will need to contact the listing agent or a buyers agent of your choice to make an offer on a foreclosure if the property is currently on the market. If it's not on the market yet, it may be soon. Contact an agent and have them notify you when it hits the market.

All the best,
Gary Geer

http://www.GaryGeer.com
0 votes Thank Flag Link Tue Dec 27, 2011
The system is set up that the Bank has a LISTING AGENT,
and you will have a BUYER'S AGENT.

This is how you make an Offer.

Good luck and may God bless
0 votes Thank Flag Link Tue Dec 27, 2011
Hello! I can set up an automatic MLS search for you, that way you will be notified when it comes on the market. All I need is an email address to tell the MLS system where to send the notification.

Have a great day!

Nadine Reinhardt
Re/Max Associates of Lancaster
(717) 587-7977 or contact me through my website
0 votes Thank Flag Link Tue Dec 27, 2011
If you see it listed as a bank owned home you can make an offer on it. If it is owned by the bank but it is not listed for sale, then you will not get the bank to even speak to you about it. That is because finding the right group in the bank to speak to will not be easy. The house might be in PA but the office you need might be in Poland and if the bank just got it they will be doing investigations, inspections and appraisals to determine the value in today's market so they can then decide what amount to list it for. Until they do all that, and that could take months for a bank to do, they won't talk to you even if you found the right office to speak with. Just wait until it is listed for sale with a local Realtor and get your buyers agent to make your offer.
0 votes Thank Flag Link Tue Dec 27, 2011
I would love to help you make the offer. Call me at 717-575-5598 or email me at ccassidy@weicherteh.com.
0 votes Thank Flag Link Tue Dec 27, 2011
Banks will not talk directly to buyers. The only real way to make an offer on a foreclosed property is to wait until it goes on the market, listed through a real estate professional, and then make an offer on it. I know many people who have tried and tried to go directly through the bank, it just doesn't work. Sorry. Best to find a good buyer's agent familiar with working foreclosures and have them monitor the Multiple Listing Service for you.
0 votes Thank Flag Link Tue Dec 27, 2011
You can use an attorney to make the offer before it goes to a listing agent.
Flag Fri Aug 24, 2012
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