You could go to the offices that handle lots or REO and give them your parameters and tell them you would like them to contact you if an Bank owned or short sale comes up.

I don’t have first hand experience with this but you can follow trustees sales and contact the lender directly. I have an aquaintance who said he went around the agent to the asset manager on an MLS listed REO and bought it. Maybe they have a contract that allows for this. There is room for misunderstanding in this so take it with a grain of salt.

This is from RealtyTrac regarding contacting lenders after the Trustee’s sale but before they assign the property to a broker for sale:

Contact Owner: Bank Owned
If the property is Bank Owned (REO), your first step is to contact the lender, whose information is usually on RealtyTrac’s Property Details page. You should contact the lender directly and ask for their REO or asset management department to find out how you can view and possibly make an offer on the property. REO means “Real Estate Owned” by the lender. It’s another way to say the property has gone through the foreclosure process and has now been repossessed by the foreclosing lender.

If you haven’t done it already, you’ll want to evaluate the property’s value and check for any additional loans or liens encumbering the property so that you can make an informed decision about whether the property is a wise investment. On the Property Details page, click on the Comparable Sales section to view a report that evaluates the home’s market value based on comparable sales in the neighborhood. Click on the Loan & Lien History section to view a report that lists additional encumbrances on the property.

Some bank-owned properties on RealtyTrac will give you the option to contact the property’s listing agent directly. You’ll see a link to do this either at the top of the property details page or in the Contact section of the property details page.

RealtyTrac usually has the name of the lender/bank listed on the property, but if you have trouble finding a phone number or address for them through the Internet or otherwise, below are suggestions for tracking down the lender.

1. Contact an Agent to find a local real estate agent in the RealtyTrac Agent Network who can help you contact the lender and who can check if the property is already listed on the market with a real estate agent.

2. Use the History of Notices tool to check if RealtyTrac has any further information on that property. To use this feature, click on the “History of Notices” link on the Property Details page (under property photo). This feature will give you a list of records RealtyTrac has for the property. Other records may have more information, such as the lender name, address and phone number that was missing on the original property record.

3. You can use RealtyTrac’s Xamine tool to check if the property is listed with a real estate agent. RealtyTrac’s Xamine tool can be accessed by clicking “What’s Next>Evaluate The Property” on any Property Details page. On the Xamine worksheet, select the MLS tab and click “Search” at the bottom of the page. If the property is not listed with an agent, then you will need to contact the lender directly.

4. You can contact the local property assessor to find out the owner’s name and mailing address. Since the property is bank owned, the property assessor should have the bank or lender listed as the owner. Go to statelocalgov.net to find the local property assessor in your area.

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You could go to the offices that handle lots or REO and give them your parameters and tell them you would like them to contact you if an Bank owned or short sale comes up.

I don’t have first hand experience with this but you can follow trustees sales and contact the lender directly. I have an aquaintance who said he went around the agent to the asset manager on an MLS listed REO and bought it. Maybe they have a contract that allows for this. There is room for misunderstanding in this so take it with a grain of salt.

This is from RealtyTrac regarding contacting lenders after the Trustee’s sale but before they assign the property to a broker for sale:

Contact Owner: Bank Owned
If the property is Bank Owned (REO), your first step is to contact the lender, whose information is usually on RealtyTrac’s Property Details page. You should contact the lender directly and ask for their REO or asset management department to find out how you can view and possibly make an offer on the property. REO means “Real Estate Owned” by the lender. It’s another way to say the property has gone through the foreclosure process and has now been repossessed by the foreclosing lender.

If you haven’t done it already, you’ll want to evaluate the property’s value and check for any additional loans or liens encumbering the property so that you can make an informed decision about whether the property is a wise investment. On the Property Details page, click on the Comparable Sales section to view a report that evaluates the home’s market value based on comparable sales in the neighborhood. Click on the Loan & Lien History section to view a report that lists additional encumbrances on the property.

Some bank-owned properties on RealtyTrac will give you the option to contact the property’s listing agent directly. You’ll see a link to do this either at the top of the property details page or in the Contact section of the property details page.

RealtyTrac usually has the name of the lender/bank listed on the property, but if you have trouble finding a phone number or address for them through the Internet or otherwise, below are suggestions for tracking down the lender.

1. Contact an Agent to find a local real estate agent in the RealtyTrac Agent Network who can help you contact the lender and who can check if the property is already listed on the market with a real estate agent.

2. Use the History of Notices tool to check if RealtyTrac has any further information on that property. To use this feature, click on the “History of Notices” link on the Property Details page (under property photo). This feature will give you a list of records RealtyTrac has for the property. Other records may have more information, such as the lender name, address and phone number that was missing on the original property record.

3. You can use RealtyTrac’s Xamine tool to check if the property is listed with a real estate agent. RealtyTrac’s Xamine tool can be accessed by clicking “What’s Next>Evaluate The Property” on any Property Details page. On the Xamine worksheet, select the MLS tab and click “Search” at the bottom of the page. If the property is not listed with an agent, then you will need to contact the lender directly.

4. You can contact the local property assessor to find out the owner’s name and mailing address. Since the property is bank owned, the property assessor should have the bank or lender listed as the owner. Go to statelocalgov.net to find the local property assessor in your area.

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You could go to the offices that handle lots or REO and give them your parameters and tell them you would like them to contact you if an Bank owned or short sale comes up.

I don’t have first hand experience with this but you can follow trustees sales and contact the lender directly. I have an aquaintance who said he went around the agent to the asset manager on an MLS listed REO and bought it. Maybe they have a contract that allows for this. There is room for misunderstanding in this so take it with a grain of salt.

This is from RealtyTrac regarding contacting lenders after the Trustee’s sale but before they assign the property to a broker for sale:

Contact Owner: Bank Owned
If the property is Bank Owned (REO), your first step is to contact the lender, whose information is usually on RealtyTrac’s Property Details page. You should contact the lender directly and ask for their REO or asset management department to find out how you can view and possibly make an offer on the property. REO means “Real Estate Owned” by the lender. It’s another way to say the property has gone through the foreclosure process and has now been repossessed by the foreclosing lender.

If you haven’t done it already, you’ll want to evaluate the property’s value and check for any additional loans or liens encumbering the property so that you can make an informed decision about whether the property is a wise investment. On the Property Details page, click on the Comparable Sales section to view a report that evaluates the home’s market value based on comparable sales in the neighborhood. Click on the Loan & Lien History section to view a report that lists additional encumbrances on the property.

Some bank-owned properties on RealtyTrac will give you the option to contact the property’s listing agent directly. You’ll see a link to do this either at the top of the property details page or in the Contact section of the property details page.

RealtyTrac usually has the name of the lender/bank listed on the property, but if you have trouble finding a phone number or address for them through the Internet or otherwise, below are suggestions for tracking down the lender.

1. Contact an Agent to find a local real estate agent in the RealtyTrac Agent Network who can help you contact the lender and who can check if the property is already listed on the market with a real estate agent.

2. Use the History of Notices tool to check if RealtyTrac has any further information on that property. To use this feature, click on the “History of Notices” link on the Property Details page (under property photo). This feature will give you a list of records RealtyTrac has for the property. Other records may have more information, such as the lender name, address and phone number that was missing on the original property record.

3. You can use RealtyTrac’s Xamine tool to check if the property is listed with a real estate agent. RealtyTrac’s Xamine tool can be accessed by clicking “What’s Next>Evaluate The Property” on any Property Details page. On the Xamine worksheet, select the MLS tab and click “Search” at the bottom of the page. If the property is not listed with an agent, then you will need to contact the lender directly.

4. You can contact the local property assessor to find out the owner’s name and mailing address. Since the property is bank owned, the property assessor should have the bank or lender listed as the owner. Go to statelocalgov.net to find the local property assessor in your area.

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The listing agent said she had held 2 open houses and had the sign out there for a few weeks, nothing. If I had got to her last week I could have had it at the asking price. As soon as it hit the MLS it exploded.

Interesting. So the realtor wasted several weeks putting up signs and holding open houses rather than just listing it on the MLS the first day and getting a bunch of offers?

Just another one of those things that make you go “hmmmmm”.

The best deals are likely to go to those with inside connections. It is probably always this way in good and bad markets both.

The listing agent said she had held 2 open houses and had the sign out there for a few weeks, nothing. If I had got to her last week I could have had it at the asking price. As soon as it hit the MLS it exploded.

Interesting. So the realtor wasted several weeks putting up signs and holding open houses rather than just listing it on the MLS the first day and getting a bunch of offers?

Just another one of those things that make you go “hmmmmm”.

The best deals are likely to go to those with inside connections. It is probably always this way in good and bad markets both.

Become a realtor. You’ll hear about lots of sweet deals.

Become a realtor. You’ll hear about lots of sweet deals.