A good local agent can help you find an REO property and walk you throught the process. Please be advised that purchasing an REO is a longer more involved process than purchasing a property that is not distressed.
The best way to buy an REO property is to hire an excellent Buyer Agent to assist you. Let you agent know exactly what you are looking for and they will find you the right property. It's actually very straight forward working with REO property. My last two sales were condo's and both were bank owned! My clients got a great deal for a very good price...and brand new property too!
Just a real human being with over 68 buyers who've bought REO homes, references on file. There is a way to do it, and if you want to be successful, you need to work with someone who makes these offers and gets them accepted all day long. If you qualify, and follow the program, you should see results in less than 2 weeks, it's all up to you. Contact me at 310-429-4170
Sheyenne Schultz Need to BUY? Just call SHY! Buyers gave me that line..because it's true.
http://www.shysells.com or email me at firstname.lastname@example.org
No pressure, just the facts...information provided...Never a fee to buyers!
REO properties usually end up listed in the MLS like all other homes for sale. Banks do not sell REOs directly. So when you see a property in Trulia that says it is an REO, you will have to wait until the bank lists it with one of their preferred agents. At that point in time, you will make an offer - and often there are multiple offers on these properties. Working with a local real estate agent to identify these properties early and make strong offers is one way to land an REO.
On the other hand, not all proerties go back to the bank. Some are actually purchased by investors on the courthouse steps. I work with several such investors and have access to their properties before they are listed on the MLS. If you wouldl like more information on purchasing these properties, please contact me directly through my profile. Once we discuss what your wants and needs are, I can let you know if there is anything in their inventory that fits your parameters. Dare to Dream.
Shel-lee Davis, CDPE, SFR, QSC
Your Real Estate Consultant for Life
RE/MAX Palos Verdes Realty
Keep you informed on the available inventory and which ones are worth looking at,
Give you recommendations on values, neighborhoods, etc.,
Help you write a clean offer and then negotiate the price and other terms,
Protect your interests throughout the escrow to ensure that everything goes smoothly,
Close escrow and give you the keys to your new home.
I am an experienced Broker with certifications in Short Sales and REO listings.
All you need to do is work with an agent that knows how to get an offer to the bank. There is no trick. REOs are listed on the MLS. I'd be happy to help you find them. Be carefull of tricks/service fees.
The Carrabba Group
Keller Williams Hollywood Hills
The second way if you dont want to work with just 1 agent, is contact the larger listings agents of reo properties in your area, they will be able to assist you in getting addresses on their listings.
godo luck with your search