Bank owned property.

Asked by Eb, Dallas, TX Wed Jul 13, 2011

i am interested in a property that was once a foreclosure and now is bank owned. Is it possible to purchase?

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11
T.E. & Naima…, Agent, Dallas, TX
Thu Jul 14, 2011
Eb,

My guess is you posted this in the wrong state. You probably were asking about Arkansas - so you should re-post your question in that location.

If I'm wrong, just drop me a note through my profile and I'll find out about the property here in Dallas, Texas.
Web Reference:  http://www.SumnerRealty.com
1 vote
Bruce Lynn, Agent, Coppell, TX
Mon Jul 25, 2011
Yes.....although sometimes it takes months for them to hit the market.
If they don't have it listed yet, it may be difficult to purchase.
It depends on the bank.

If you need help buying or finding the right person to contact please contact me.
I would be happy to help you.
0 votes
Jim Rooks, Agent, Dallas, TX
Thu Jul 14, 2011
See link posted below! It can be an experience even for experienced folks!
0 votes
Bruce Lynn, Agent, Coppell, TX
Wed Jul 13, 2011
Probably yes.....sometimes though not right away.
If you'll give me the address I can try to look up the information.
0 votes
Don Groff, Agent, Austin, TX
Wed Jul 13, 2011
It may or may not be currently available. You can always contact the lender's REO department directly if you can find out who the lender is. I would have your agent do the legwork for you. That's our job!

Don Groff
REALTOR® | Mortgage Broker
Keller Williams Realty | 360 Lending Group
o.512.669.5599 m.512.633.4157
listings@dongroff.com
0 votes
Zareen Khan, Agent, Fort Worth, TX
Wed Jul 13, 2011
Yes, we can help you find a bank owned home and direct your search specifically for properties that are bank-owned (also called REO). I've helped several buyer navigate the purchase of REO properties, it's a slightly different transaction when you're dealing with a bank or asset manager who is selling the property as opposed to an emotional, individual homeowner . I am happy to discuss the process in greater detail with you. Please email me at zareen@z-realestate.com if you're interested.
Web Reference:  http://ww.z-realestate.com
0 votes
Shanna Rogers, Agent, Murrieta, CA
Wed Jul 13, 2011
Hi Eb,

You will need to find out from a local Realtor if the property is listed for sale. If it's not, ask the Realtor to keep an eye on the property and let you know when it becomes available for purchase.

Shanna Rogers
SR Realty
http://www.RealtyBySR.com
0 votes
Damon Willia…, Agent, Dallas, TX
Wed Jul 13, 2011
Simple answer is yes-

If you give me an address of the home you are interested in Ill be happy to tell you if it is available or even listed of that matter. Also I can find out if it is not listed when it will hit the market. Feel free to contact me for more details.
Web Reference:  http://www.realtordamon.com
0 votes
Katherine Mc…, , Dallas, TX
Wed Jul 13, 2011
Yes! What's the address? Call (214.868.7757) or email (kmccullough@kw.com) me so I can send you all the information about the home.

Katherine McCullough
Realtor Associate
Keller Williams Elite
214.868.7757
Kmccullough@kw.com
0 votes
Jena Dentone, , McKinney, TX
Wed Jul 13, 2011
It's definitely possible to find a bank owned home. Also, i pay 1% of the purchase price at closing to help my buyers with their closing costs.

Jena Dentone
972-467-8444
RE/MAX Four Corners
Web Reference:  http://Www.jenadentone.com
0 votes
Sean Parsons…, Agent, Dallas, TX
Wed Jul 13, 2011
It is all a matter of timing Eb if you can purchase a 'Bank Owned' (REO) property. Usually an employee of the bank titled as the Asset Manager of the property to assign the property to be sold by listing it with a Realtor. Usually this process of putting the property on the market for sale can take anywhere from 3 weeks to 6 months. So keep an eye on it and feel free to reach out to me if you want to be updated when it comes on the market.
Web Reference:  http://www.seanparsons.com
0 votes
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