Newbie looking for input on bank foreclosures - Posted by Robo

import · September 15, 2004, 4:59pm

Posted by john on September 16, 2004 at 21:06:11:

around here a banks REO’s are listed with real estate broker at FMV. An agent is required to present all offers, even though they balk. You could try going to the bank and ask for list of REO’s and make a contact in the loss mit dept.
It can’t hurt to make offer(s). You will never know until you ask.
Here 50% discount is a stretch but might fly where you are especially if on market over a year. You might try timing offer to close near end of month so the bank can show a property off books for that month, can’t say it helps just a thought.

import · September 15, 2004, 4:59pm

Posted by Robo on September 15, 2004 at 16:59:20:

Hello. There are tons of bank foreclosures in my city that have been on the market for over a year. I want to offer 50c on the $ but not sure if the bank’s RE agent would give it the time of day. How do I get around this? Thanks.