Any advice would be great. Should i speak with Bank Managers, or go to the Local County Seet office. Are they bought at auctions or can i buy them before directly from the bank? I really appreciate your help in helping me find my dream home/land...thanks a lot
2007-10-07 14:12:22 · 3 answers · asked by Anonymous in Business & Finance ➔ Renting & Real Estate
You probably know which area you want to purchase in already. The best way to do this is to go to the source. Go into the banks in the neighborhood that you are interested in and ask for their foreclosure lists. The banks want these properties off their books in the worst way. It really screws up their cash flow and they will go out of their way to help you purchase one of their foreclosures. In many instances they will come up with special loan packages just to help you out. Its a Win Win situation. The bank clears its books and you get a good home at a good price. Why talk to agents and middle men when you can go right to the source and do it yourself. Good luck.
2007-10-11 13:15:44 · answer #1 · answered by Traveler 7 · 0⤊ 0⤋
Some Realtors have listed reo (bank owned) homes and land. I sell reo homes for several banks, and some are very good prices. Contact your local realtor and have them search the mls for bank owned homes for you. You can go to www.homesteps.com, this is a bank website to search for foreclosures.
2007-10-11 20:44:04 · answer #2 · answered by Broker Lisa 2 · 0⤊ 0⤋
Find a good agent who knows how to search the MLS for them. Going directly to the lenders doesn't work very well because most of them have agents signed up to take care of cleanup and marketing. Also, it's very hard to get through to the actual decision makers at the lenders!
2007-10-11 21:13:47 · answer #3 · answered by Vicki L 1 · 0⤊ 0⤋