Our recommendation is to seek the guidance of a skilled real estate professional to assist you in this venture. They will be able to provide you with property to preview, arrange viewings, and walk you through the process, step-by-step.
I have been working as a buyers agent for some time now mainly buying REO'S. Some of the web sites that list reo's are not up to date and give false and misleading information such as the price, availablity, and properties that are sold are still listed as active. If you want a real reo search that gives you current update listings just log onto my web site and put in your criteria and your ready to go. You can also email me and I can answer any of your questions regarding reo's.
Just be careful. Foreclosures, short sales and REOs (bank owned properties) are different beasts. Properties in foreclosure may have no clear title and if you buy one, you might end of having to pay off the various liens on the property as well. There are other pitfalls to foreclosure properties as well.
What price range are you looking to buy? What area? Have you been pre-approved or will this be an all cash purchase? The reason why I asked is b/c you have to be pre-approved when submitting an offer for short sale or REO/bank owned properties. Cash is king in this market, so if you have the money to make an all cash purchase, then even better.
I have a list of all the REO, NOT, and NOD homes currently on the market in Santa Clara County. Let me know if you would like a copy of this list.
Vicky Le, Realtor
Intero Real Estate