How to buy a Deutsche bank owned home

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Submitted by Goodlandrealestate on January 11, 2008 - 12:54am

I would like to put an offer in on a Deutsche Bank owned property and do not know who to contact, any ideas?

Submitted by robyns_song on January 11, 2008 - 6:19am.

It might not be as easy as you think because Deutsche Bank is typically just the investor on their loans, not the servicer...you'll need the servicer to put in an offer. The bank will still likely want to do their own BPO and the whole package anyway, so you might as well just wait until you see a sign in the front yard or watch the MLS.

Submitted by Bugs on January 11, 2008 - 10:07am.

Be patient and wait for it. From what I've seen, when looking at MLS listings that openly disclose a property is a bank-owned foreclosure, the two most common lenders for those are Duetsche Bank and HSBC.

The REO sale on that property is coming soon to an agent close to you.

Actually, you could look up the agents who list the properties for those two lenders and have them put you on their interest list.

Submitted by asragov on January 11, 2008 - 11:09am.

It may not be easy, but it might worth the cost of a stamp:

https://www.rreef.com/cps/rde/xchg/glo_e...

also

http://www.mortgagenewsdaily.com/wiki/RE...

Unless this is for an immediate personal need which can't be avoided, you might want to read some other threads, and consider buying, maybe, in the 2009-2011 timeframe .... Until then, renting is likely to be a much better deal

Submitted by SD Realtor on January 11, 2008 - 11:44am.

Typically all lenders and service organizations do not deal with buyers directly. They hire a brokerage to sell the property directly. You can have your realtor contact the listing agent or you can call the listing agent directly if you don't care about any representation. If you do call that listing agent that agent will get both sides so try to get a rebate out of him/her for some of the commission. If you list the property address I can let you know who is representing the property. If you don't want to list the address of the property I understand.

Robyns Song and Bugs are absolutely right in thier posts. The servicing org will definitely want to do the BPO before they list it on the MLS and they will not look at any offers before that regardless.

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