Dear First Time Buyer, If you're looking for a bargain on an REO property think again. Most Banks are just like any other seller, they want to get the most for the property as possible and most will require the property to be advertised in the MLS and online for a number of days (7 to 10) before they will even look at offers. While they will list below market value they expect the property to sell at or above market value. I've been listing REO properties for more than 20 years; I have also been on the inside of the Bank as an asset manager. If you want this particular property for some reason your best bet is to contact a local Realtor near the property and have him/her comp the property and come up with a reasonable value, that way you are ready once the property is listed and don't worry about someone else gulping it up, those days are long done...Banks are wise to unscrupulous realtors. Most of my REO listings received multiple offers. BTW - I can't give a buyer specific information about the property other than what on Public records, most of the time I have not seen the interior of the property. Here is more information on me...https://www.linkedin.com/in/garrycaswell. Good luck and happy house hunting.