Foreclosure in 80134>Question Details

Jackie Ponich, Home Buyer in Prairie du Chien, WI

how can I find a list of companies that have acquired bulk reo(s) from banks to resell to the public?

Asked by Jackie Ponich, Prairie du Chien, WI Sun Aug 25, 2013

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4
Hi Jackie, if your realtor does not have access to a list like this then you best bet is to contact the banks themselves and ask if they have any REO's Most of the time they will give you the agent/broker that will have that information for you.

Could be a long process.... and is usually played by the big or $$ players.

Good Luck!
0 votes Thank Flag Link Fri Oct 11, 2013
Jackie,

This is a tricky process and you may wind up in deep waters and over your head. Still the best way is to work with an experienced Buyer's Agent who know the market for investors and can guide you through the shark tanks. Believe me, there are some sharks out there that will promise you the world, do not have your best interests at heart, but want to make the biggest profit they can at your expense. Bust of success and be careful.


Robert McGuire
Broker/Consultant
Your Castle Real Estate
http://about.me/robertmcguire33
0 votes Thank Flag Link Sat Aug 31, 2013
Jackie,

Public records are going to be your best bet. These entities tend to keep their activities on the DL. I guess I would want to know what exactly is your angle. If you are thinking that you might buy a bargain through one of these companies then you will probably be disappointed as they will price the properties for sale at a hefty profit. You are probably better off buying at a foreclosure or tax sale, but this requires cash on the barrel head. Tell me what you think.

John
0 votes Thank Flag Link Mon Aug 26, 2013
I ran across two companies, by accident, while looking for a house in a small Illinois town. I did not know of such companies before that. Both of these companies were willing to sell on land contract. I know there must be a lot more out there but have not been able to find them after extensive searching on the computer. One of the houses in Illinois was listed by a realtor, was reasonably priced and would sell to me at the same price as someone paying cash, but I messed up! I opted to go with the other house, in which they would pay a realtor a referral fee, but found out too late that they want to sell to me for $40,000 when anyone coming in with cash (or loan) would get it for $20,000....which I won't donee. Meanwhile, the other house sold and I have not found another one of their's that I am interested in. I'm not looking for a bargain, but don't want to be ripped off either. Both would sell land contract/lease option as that is the only way I can buy at this time.
Flag Mon Aug 26, 2013
Hi Jackie,

You will have the best opportunity to find these through Real Estate attorneys that specialize in REO's.

Best,

Melissa Mount
0 votes Thank Flag Link Sun Aug 25, 2013
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