Contact a local RealtorÂ® as most lender owned properties are listed on your local MLS when they are available for sale. Be prepared to look at homes that are not in move in condition. Get preapproved by a lender that offers the FHA 203(k) loan program. From your RealtorÂ® get the names of a couple of preapproved contractors and select the one you think you want to work with.
Now go look at lender owned properties as you are prepared to go in and make an offer on them.