I have heard you can do this- and would like to forego the realtor- go directly to a bank. I know they own their foreclosures- obviously- so this has got to be a possibility.
Any feedback helps. Thank you
4 thoughts on “does anyone know how to go directly through a bank to buy a foreclosure property?”
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You can not fore go an agent. The bank can not legally sell property, they do not have a license to do so. You can call, but they will only refer you to their RE agent. You are much better off having one of your own, theirs will be looking after the banks best interest, not yours.
Call the bank and ask to talk to the person who handles foreclosures. As long as they haven’t listed the property with a Realtor they should be willing to deal with you. They will be saving money by not hiring a Realtor.
Banks almost always sell their property with a real estate agent. It will be a rare lender that will deal with the general publice and sell one of their houses.
It starts with a call. Introduce yourself. Ask who is in charge of REO and Liquidating bank assets taken in foreclosure.
Let them know you believe you are qualified to execute a purchase from the bank at a dollar amount (your range) and will do so in a 10 , 20 or no more than 30 day escrow.
Good luck