Posted by Rob FL on December 16, 1999 at 10:17:00:
Most of the banks I have dealt with sell their property through a Realtor and are thus advertised in the MLS. One of the key words I search for is “bank owned.” I assume this is the bank’s company policy. No FSBOs.
I can’t speak for what basis they use to come up with their asking price. Most of the REO’s I have seen have been neglected and/or trashed by the foreclosed owner and the price reflects the fact that repairs will be necessary.