Posted by Rolfe Kurtyka on May 05, 2000 at 23:28:23:
Thanks for your input.
The REO’s are listed, but the listing is simply a formality. The purchase is arranged well beforehand. I just closed on foreclosure purchased from a wholesaler, who, along with an exclusive handful of other investors, had toured and arranged purchase on dozens of forclosures well before the property was ever made available to the public. The properties are “listed” after the deals are made. The fake listing allows the REO agent to claim the property had been listed.