Is there any way to find out which bank owns an REO and make an offer before a property goes on the market?

Asked by Kim, Central Coast Mon Jun 30, 2008

We have seen so many empty homes while we're out searching, but they're just sitting there. We would love to be able to jump on something before it's listed...

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Dallas Texas, Agent, Dallas, TN
Mon Jun 30, 2008
NO many are going the processing the banks are not set up that way work direct most have a 3rd party that handles all.
1 vote
Pacita Dimac…, Agent, Oakland, CA
Mon Jun 30, 2008
You can also go to the local city/county records, give the address(es) of the property(ies) you are interested in and see the latest records on who owns the property, if there is a trustee sale and when/where it is scheduled, if it was sold at an auction and who bought it for how much and when.

You can also ask your realtor to check with the title company for the status of the property(ies) you're interested in.

BUT....lender/lien holders often list the properties with realtors because banks are not inclined to handle such sales directly. They have specific requirements that they want followed to the letter.

So just keep your eye on the property, or have your realtor set it up so that you are automatically notified via email as soon as a property meeting your criteria and in your price range becomes available.

Good luck.
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