found a repo, can't find bank??? - Posted by kello

Posted by Bill H on July 08, 2003 at 20:46:08:

Go back to the assessor’s office and look up the owner in the records. That should be the deed of trust from the lender. Look throough it and in the margins,etc. There you should find the address of the lender, the loan number, etc.

Good Searching,

=======>bill

found a repo, can’t find bank??? - Posted by kello

Posted by kello on July 08, 2003 at 18:34:41:

I found a house for sale that is bank owned. A real estate agent is selling it, but won’t tell me which bank owns it. How do I find out? I’m interested in buying it but wanted to make an offer directly to the bank. I tried the assessors office and it’s still in the previous owners name.

Re: found a repo, can’t find bank??? - Posted by Kristine-CA

Posted by Kristine-CA on July 09, 2003 at 01:01:38:

Kello: 95% of the time you can’t make an offer directly to the bank. Most REOs are listed withagents and the bank will have to pay the agent regardless of whether you make the offer directly to them or not.

Tax collector or assessor for your area has owner records.

Why not just make the offer you want to make through the agent? You can always get a buyer’s agent if you prefer (assuming the property is mls–most REOs are).
Sincerely, Kristine

You are missing the forest for the trees kid… - Posted by Sean

Posted by Sean on July 08, 2003 at 21:40:35:

Why the heck would you want to talk directly to the Bank? The bank has it listed with a realtor for a reason! If you think, you as John Q Nobody is going to get the time of day from a bank on an REO listed with a realtor you are vastly overestimating your importance in the world.

Seriously, you are just going to make yourself look like an amateur, at best, or a fool at worst by continuing that course of action.

Who cares what bank owns the property? They have it listed with a realtor, you make your offers through the realtor… if you don’t like the realtor, find one to represent you and they will be the ones directly dealing with the banks realtor. Realtor is going to get paid, you aren’t going to by pass them and frankly you shouldn’t try because all you are going to do is make the realtor angry! And if he is a realtor that handles REO’s he’s a far greater asset down the line, trying to short circuit him for one deal is utterly foolish.

Fact is, it doesn’t really matter who the bank is… all that matters is, is that you like the property and you do your analysis and make a financially profitable offer on it, period.

You are just stepping on your own toes even trying to bypass a realtor.

Re: found a repo, can’t find bank??? - Posted by Kristine-CA

Posted by Kristine-CA on July 08, 2003 at 21:25:58:

Kello: 95% of the time you can’t make an offer directly to the bank. Most REOs are listed withagents and the bank will have to pay the agent regardless of whether you make the offer directly to them or not.

Tax collector or assessor for your area has owner records.

Why not just make the offer you want to make through the agent? You can always get a buyer’s agent if you prefer (assuming the property is mls–most REOs are).
Sincerely, Kristine