Great question! The banks keep their foreclosed homes inventory out of the public view.
They fix these houses, rent them out, keep them on the books as assets - and drip very few on the market to get the best pricing (that's why we don't see foreclosures flooding the market).
The banks communicate with their REO agents directly, and some agents might now of the house's future ahead of time. In some cases, asset managers are open to hear of the buyer ahead of time - even the note buyers...In most cases though, this is not the case.
Hope this helps,
Beachfront Realty, Inc.
If you are interested in purchasing short sales, or know of a seller with shadow inventory interested in proceeding with a short sale, please contact :
Susan J Penn, PA, EWM Realtor,
Certified in Distressed Properties
Hope I was able answer your question. If you have any more please do not hesitate to contact me.
Miguel W. Maria, P.A., CDPE, e-PRO, TRC.
Sales Manager / Lic. Broker Associate / Member of Weichert, Reators President Club
Distressed Property Expert / e-Marketing Expert / Transnational Referral Certified
Lead & Relocation Specialist / State Certified Residential Appraiser
Personal Assistant: 954.683.3280
2238 Weston Rd. Weston, FL. 33326
efax: 305.403.3531 web site: http://www.miguelwmaria.com
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