REO properties usually end up listed in the MLS like all other homes for sale. Banks do not sell REOs directly. So when you see a property in Trulia that says it is an REO, you will have to wait until the bank lists it with one of their preferred agents. At that point in time, you will make an offer - and often there are multiple offers on these properties. Working with a local real estate agent to identify these properties early and make strong offers is one way to land an REO.
On the other hand, not all proerties go back to the bank. Some are actually purchased by investors on the courthouse steps. I work with several such investors and have access to their properties before they are listed on the MLS. If you wouldl like more information on purchasing these properties, please contact me directly through my profile. Once we discuss what your wants and needs are, I can let you know if there is anything in their inventory that fits your parameters. Dare to Dream.
Shel-lee Davis, CDPE, SFR, QSC
Your Real Estate Consultant for Life
RE/MAX Palos Verdes Realty