info regarding bank REO property

Asked by Tran, Alhambra, CA Fri Mar 14, 2008

Where can we find the info regarding bank REO house? I heard it's easier to get a good deal from bank owned. Does anyone know a useful website for these search? Thanks in advance.

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12
Monique and Joe Carrabba’s answer
Monique and…, Agent, Beverly Hills, CA
Fri Mar 14, 2008
Hello Tran,
From what I've been seeing, the best deals out there are with Pre-forclosures. Properties listed for sale that are in default on their loan. Banks don't want to own property and are more likely to take a lower offer when the property is going into foreclosure/in default then once they own them (reos). As Maggie mentioned, both ways of purchasing the properties can be found on the MLS. For access to the LA MLS you can visit our website below.

All the best,

Monique
1 vote
Maggie, your…, , Long Beach, CA
Fri Mar 14, 2008
The best place is through the MLS (Multiple Listing Service). Nowadays, all REOs are listed with a real estate agency and they in turn put the REO properties on the MLS. Realtors are members of MLS and are able to send you homes for sale that are bank owned. The most important role a REALTOR has is to negotiate the best terms and price for your bank owned offer. Also, since REOs are "as is" ; you have a vested interest to work with a buyer's agent who will assist you in deciding whether to buy or not based on their expert advice and experience.
1 vote
Karen Montaq…, Home Buyer, 11550
Tue Nov 3, 2009
You can try emailforeclosure.com, i will keep you posted if i find any more listing that are free. Good luck with your search
0 votes
David Dee, , San Gabriel, CA
Sun Jan 4, 2009
Hi Tran,

You can view those REO listings on realtor.com. However, if you need further assistance, feel free to contact me. All realtors as I am have access to the MLS which has the most updated info on the Bank Owned properties. I do have connections with several REO agents as well so I sometimes get listings that are not even listed. My office is right in Rosemead CA and you can drop by anytime. Good luck. David 626-203-5676
0 votes
Melissa, Home Buyer, Lansing, MI
Fri Jun 6, 2008
Any one a website to search US BANK REO properties? I am in Lansing MI, I seen a house I would like to check out. It was a repo now owned by US BANK. It has not been listed as of yet. I would like to contact US BANK directly. I appreciate any assistance.
0 votes
Mary E. Absh…, Agent, Naples, FL
Thu May 29, 2008
I am a experienced,knowledgeable REO realtor in the Naples, Florida area. We know our market and what is happening and we would love to educate and help buyers buy our properties that are destressed or already in the foreclosure process. It is very simple for a good agent to help you with all the different venues of this every changing market. Contact me anytime or email me to help you with any and all questions to the Florida foreclosure, REO market.
0 votes
Hank Hennessy, , Arcadia, CA
Thu May 29, 2008
Hi Tran,
I'm an agent in Temple City and have information to bank owned properties in the Alhambra area. Feel free to contact me if you want to get started on the process of buying a bank owned property. Hank at 626-523-8787
0 votes
Sallly M, Home Buyer, Glendora, CA
Thu Mar 20, 2008
http://www.pasreo.com

This lists all the bank owned properties for Wells Fargo Mortgage.
Web Reference:  http://reneegantsells.com
0 votes
S, Both Buyer And Seller, 91311
Tue Mar 18, 2008
Yes, that is correct the listing agent is right there along with the phone number. But it is still a great place to see what is out there in the foreclosure area. It is a useful website for searching for foreclosures and it links to many other lenders sites.
0 votes
Deborah Madey, Agent, Brick, NJ
Tue Mar 18, 2008
Hi S,
The properties lsited on this site are listed w/ Realtors and the contact info listed is the lsiting agent for the bank. Over and over, on this site and everywhere, you will hear advice given to buyers to work w/ a bueyr agent who is working in the buyer's best interest. The properties on this stie appear on MLS, Trulia, and Zillow.
Deborah
0 votes
S, Both Buyer And Seller, 91311
Tue Mar 18, 2008
here is a great site, there is no fee, it is free and you don't need a realtor in order to check it out


http://countrywide-foreclosures.blogspot.com/

there are thousands and thousands of foreclosures listed with contact info and don't forget to check out the links on the left which will take you to other lenders sites, prices are also there
0 votes
Courtney Coo…, Agent, Seattle, WA
Sat Mar 15, 2008
I agree with Maggie! Just ask your REALTOR - they are all in the MLS. And defintiely do not pay for one of those online subscriptions which are often not up to date.

Good luck!
0 votes
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