You are wasting your time. Banks REO managers or asset managers will not talk to individual agents or buyers. You would be better off trying to get in touch with the current owner and negotiate an offer for short sale. Otherwise you will have to wait for the Bank to list it with an REO Listing agent, if they in fact pursue that course. A lot of banks are considering bundling foreclosures and selling them to investors in bulk. In fact the government is encouraging this plan. If they do that you won't have a chance of purchasing the home as the investors will more than likely rehab the home and rent it out or resell it at a profit. Even if the bank does list it with an REO agent, it could be years before the home actually goes on the market. I have watched homes in my own neighborhood sit empty for two or three years and they are STILL not listed for sale. And on top of all that, if the home is not vacant, the homeowners may be trying to work out a mortgage modification which could delay the foreclosure auction indefinitely.
The best thing you could do for your clients at this point is to either try to contact the current owners and offer to purchase the home as a short sale, or advise them to consider other homes.... more
The lender agreed to take title to the property as is instead of pursuing forclose. The property is all theirs now baby. The lender may be able to before the sale takes place go after the seller/property owner that broke their legal contract for any damages that were intentional.
Proving it is another matter. Like holes in the wall--"Oh we just had an accident when we were moving!"... more