If there is no notice yet, you really just have to wait until the bank's asset manager assigns it to an agent. If you were to just call the bank they won't be able to help you, they'll just say something like "that property hasn't been assigned yet".
The other answer here is correct: The commission is set by the bank & it's not going to be any less whether or not you have your own representation. It's best to have an agent working for you. It doesn't cost you anything.
You won't be able to inspect the interior either until the House is assigned to an REO agent.
FYI REO's are represented by Asset Mangers of larger Financial Institutions and would not like being approached directly from a buyer. They do not even like Agents who do not know what they are doing.
The best advice I can give is reach out to a seasoned Realtor who had done many REO's and that would certainly help you in getting the property.
Endre Barath, Jr.
Berkshire Hathaway HomeServices
Beverly Hills, CA
It is always best to have a professional Realtor representing you as a prospective buyer. Getting back to question w/out a Realtor CAR purchase agreement stipulates inspection period and conditions. Yes buyers entitled to inspection contingency when purchasing REO property. If subject property does not satisfy buyers requirements have cancellation contingency in buyer's accepted offer. Best of Luck!
Gail Mercedes Cole
EXP Realty Marina del Rey
Web Reference: http://www.jonesresortproperty.com/