That does happen, where you able to submit a back up offer?

There are normally systems in place in order to ensure that does not happen. Most of the asset managers I work with require that the property be on the MLS for a few days before reviewing offers. Best thing to do is to have all of your paperwork in order and be ready to write an offer "on the spot" if you find something you like. The REO properties that are aggressively priced will have multiple offer within 24 hrs.

Ready2buy:

Sometimes while the homes are getting ready to be listed (during the clean out and the time for the previous owners are moving, also while the Appraisals are being completed agents know properties that are going to come on the market and that is when the offers could be presented to the bank.) If they are a Fannie Mae, they must be listed in the MLS before they can accept an offer, but other banks don't have that requirement.

Your best opportunity is to make sure you are working with a Realtor who is welling and able to have the contacts with the REO agents.

Let me know if you would like for me to help you.

Diana 909-945-5763