how can I get REO's?

Question

how can i gain access to a banks REO's? On top of that is there special conditions or things to be met with REO's?

Answer 1

Most lenders now list their REO's with a local broker to sell. You might find out who in your city is listing them. Some you will find in the local paper and the listing agent will list it as a bank foreclosure or REO.

This person could be the one that have the REO listing from a bank in your city. Sometimes these list are kept apart from other list and he will send you a copy.

The banks will not normally give you a list of their REO's they might even deny that they have one, but they will direct you to the person selling them.

Some REO's might have slight damage, most of the time the bank when accepting an offer will compensate for this by offering money back in the escrow, or drop the sales price.

I hope this has been of some use to you, good luck.

"FIGHT ON"

Answer 2

try this site. www.hud.gov it has all the information you want for reo's. another thing to do is call the bigger lenders and ask them what they do with their repos.