How would I get in contact with the Bank that owns a foreclosed house?

Asked by mohamedtamis, Waterbury, CT Sun Dec 9, 2012

Hi, I am a licensed contractor and insured as well. I would like to know how I would I get in contact with the Bank regarding the foreclosed house that the Bank owns. I do all major repairs and cleaning as well as getting it ready for marketing. Thanks-Mohamed.

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Alison Giraldo’s answer
Alison Giral…, Agent, Medina, OH
Mon Dec 10, 2012
You are looking to enter a property preservation company. Some of the larger ones are Lender Processing Services (LPS) SafeGuard and Five Brothers. Google search property preservation in your area. You will need 1 million in E&O insurance and liability. You need to be in business for at least one year and most require at least three references. Good Luck.
0 votes
Betty Clayton, Agent, Chicago, IL
Tue Feb 5, 2013
I guess the question is are you looking to purchase or just become a bank service the home that they chose to upgrade after foreclosure and put back on the market for sale. If that is the question then call me at 708-207-4818 and I will see if I can steer you in the right direction. Thanks
0 votes
Jeff Nobleza, Agent, Chicago, IL
Mon Dec 10, 2012
Most of the big banks work with third party groups who is responsible for engaging real estate brokers and contractors like yourself. I suggest you apply with those parties.
0 votes
Manuel Brown, Agent, Chicago, IL
Mon Dec 10, 2012
Unfortunately you will most likely have to wait until the property has been listed with a Real Estate company. Work with a broker who can set up in automatic search for you on the MLS. The minute the property becomes available you should be alerted.

Best of Luck,

Manuel Brown, Broker
iMove Chicago
0 votes
Erik Sachs, Agent, Chicago, IL
Mon Dec 10, 2012
Have a realtor set up an address search for you so that you know when the property becomes available on the market. Shoot me an email with your email address and the home address and I can set it up.

Erik Sachs
RpV Realty and Development
Cell 773/368-5515
0 votes
Matt Laricy, Agent, Chicago, IL
Sun Dec 9, 2012
It will be impossible to do this your best bet is to team up with an agent who works foreclosure listings.
0 votes
JIM Michaels, Agent, Chicago, IL
Sun Dec 9, 2012
best to have a realtor do that for you. Email me at and I can start the process
0 votes
David Hanna, Agent, Chicago, IL
Sun Dec 9, 2012
You won't be successful trying to get to the property before it goes on the market. The bank knows the marketplace will offer the best opportunities for the highest price.
If this is about being a buyer at whatever the market, for better or worse, values the house, get a Realtor and set up a search for the area, so when the bank does list it, you will know. If this is a Fannie Mae or Freddie Mac property, you can see it before it hits the market, and perhaps bid on it, via their websites.
0 votes
Sohail Salah…, Agent, Chicago, IL
Sun Dec 9, 2012
I would contact a Realtor who works with this bank and can get you more information that you seek.

Sohail A. Salahuddin | Founder
IPC Group | Sales and Leasing | Residential and Commercial
Jameson Sotheby's International Realty
425 W. North Ave
Chicago, Il 60610
312.437.7799 | cell
312.335.3235 | office
847.805.6030 | fax

Search all available properties here:
0 votes
Philip Sencer, Agent, Chicago, IL
Sun Dec 9, 2012
That is almost impossible unless the bank is a very small local one. These banks have created a mamouth REO machine to handle the mess they created. They never deal with individual potential buyers. You just need to wait until the property gets listed with a Broker although some of them get sold va one of the idiotic auction firms and do not go into the MLS. If you give me the address I can see if I can find out who the bank is.
0 votes
Bill Eckler, Agent, Venice, FL
Sun Dec 9, 2012
Banks don't normally deal directly with the sale of their properties. They work directly with the support services of real estate professionals and thus avoid being directly contacted by interested parties.

The best way to learn about and make offers on a distressed property is via a realtor. They will be able to provide you with the information you require and guide you through the negotiations and buying process.

Good luck,

0 votes
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