OfflineI live in a county that 4 out of 5 foreclosures are bought back by the bank. A lot of these house are currently sitting empty and don't have a for sale sign in the yard. My question is there a way to approach these REO's? If there is a way who do I get in touch with? How do I make offers on them and will banks allow you to make offers without a real estate agent? Please help me understand this. I am just starting and wanting to see if there is a way to wholesale these houses directly with the banks.
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Lori,
Welcome to the forum!
When we are considering properties that the bank has in their possession we will need to locate the Real Estate agent that is working with that bank.
If you can find the information about which bank foreclosed on the property you can contact them and they will direct you to who is helping them move the properties. You can go through the county records and see who that is as far as the bank.
You can contact a real estate agent and see if they can find the information about who is holding the property as well.
In some cases the bank might not be moving the houses they have taken back just yet.
For whatever reason the bank has for not selling the properties, asked to be notified when they do come on the market.
-try to find the bank name and contact them about their non-performing assets.
-contact a real estate agent to find out details on the property.