Buying REO ??

Posted on: Wed, 08/24/2011 - 17:06

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Buying REO ??

Need help or info on buying a reo. This house has been forclosed on by ( BAC ??). Only # i've got is the # to property manag.co and ther not telling me anything .Thanks.

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by SteveADK
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Posted on: Wed, 08/24/2011 - 17:17 #1

TDSPropertiesVT

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Steve - typically large

Steve - typically large banks will relist the REO with an agent, with the goal of getting top dollar if they can. Sometimes you can get the inside scoop if you know the agent (big banks may list with the same agents over and over again in a certain area). If not, you'll probably have to wait until it hits the MLS.

Small banks are easier to work with. You may be able to call the bank directly and ask to speak to the person in charge of bank owned properties.

- Tom

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