I found an REO home in a town I like, what is the first thing I need to do to move forward with buying it?

Chris
Home Buyer
Oneida County, NY

I would like to find out more about the home, and the condition it is in. I looked for an agent that specializes in REO's but found nothing in that area.

Answers (4)
First to answer: Chris
Chris
Home Buyer
Oneida County, NY

I think I may have jumped the gun. After looking into it a little more, I realized that it's not in the MLS yet. I guess I'm going to have to wait until it's on the market. Thank you for your help!

Mon Sep 7 2009, 00:47
Lynn911.com Dal...
Agent
Dallas, TX

Are you qualified for a loan? All sales offer require lender approval letter.

Once approved contact a Realtor you don't need an agent who specializes in REO , a home for sale is no different than a foreclosure

National Featured Realtor and Consultant, Texas Mortgage Loan Officer, Credit Repair Lecturer
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Sun Sep 6 2009, 22:10
Bill Eckler-Flo...
Agent
Venice, FL

Chris,

Great news that you have found a home that appeals to you. The best way to get started is to contact an local real estate professional that is not associated with the listing company. Many buyers have reservations about doing business with a realtor serving as a "dual agent"(representing both the buyer & seller) We suggest that you remove all doubt of "conflict of interest" by seeking the services of an agent that is not associated with the lender.

Best wishes,
The Eckler Team

Sun Sep 6 2009, 05:36
Chris
Home Buyer
13340
FIRST ANSWER

I would think that you need to find out what bank owns the property and if the bank is working with a realtor. We purchased an REO home 8 ago and this one was being sold through a realtor.

Sun Sep 6 2009, 04:30

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