Trulia Community - Advice from neighbors and local experts

Find Your Community
We couldn't find that location. Please try again.
Get Expert Advice

Millington : Real Estate Advice

  • All0
  • Local Info0
  • Home Buying0
  • Home Selling0
  • Market Conditions0

Activity 5
Tue Apr 26, 2016
Danny Genetin asked:
I am looking to buy my first home in the Navarre,(Stark COunty) OH area. Upon looking around I found a vacant home that I have become very interested in. I took the home address and put…
0 votes 0 Answers Share Flag
Wed Jan 27, 2016
Garry Caswell answered:
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... Good luck and happy house hunting. ... more
0 votes 9 answers Share Flag
Tue Jul 28, 2015
Editanlaurel asked:
After almost two years of negotiation, bank sold it, accdg to Sheriff US bank bought it, checked US Bank they dont have it and asked if it was US Bank trustee only. What recourse do I have?…
0 votes 0 Answers Share Flag
Thu Nov 27, 2014
Christopher Pagli answered:
Wed Sep 25, 2013
Terry Farnsworth answered:
As stated below you'll have to wait until the bank decides to put it on the market for sale.

They will not field any phone calls or requests for these properties until they are listed for sale, at which point you will need to contact the real estate agent responsible for the listing.

REO properties almost exclusively use local real estate agents to dispose of their properties, because they would never be able to manage all of the inventory in all the different locations internally.

Once a property is listed for sale, you would need to enlist the help of a buyer's agent who can guide you through the process and submit an offer. Your offer will then go to the listing agent, who will submit it to the asset manager working for the bank for review.

Hope that helps!
... more
1 vote 3 answers Share Flag
Search Advice
Millington Zip Codes