REO Question? - Posted by ScottC

Real Estate Investing
1

Posted by Ray S(FL) on February 04, 2000 at 16:08:10:

Scott,

I don’t know of any other way to buy an REO. I know that Carlton advocates finding that person in the REO dept. at the bank but, my experience has taught me that that person is non reachable. Realtors are the only way to buy a REO property in my market. It is also very competitive for these properties.

Ray S(Fl)

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REO Question? - Posted by ScottC

Posted by ScottC on February 04, 2000 at 15:35:49:

Does anyone know of some lenders who are liquidating their REO properties in house and not through outsourcers. It seems that all the lenders I have called are outsourcing and you cannot get a list of properties in your area from them. When I ask how do I go about finding what properties they have in a certain area their reply is you will just have to look for realtor signs and call them and maybe it will be one of our foreclosures.This sounds like terrible buisness since their buisness is supposed to be to liquidate properties as fast as they can and maximize returns. So if anyone knows of any lenders I could contact and get straight answers I would appreciate it.

Thanks!

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Re: REO Question? - Posted by FrankPghPA

Posted by FrankPghPA on February 04, 2000 at 23:59:33:

Scott…All of the lenders in my area [Pittsburgh, PA] list their REO’s with realtors. Generally, they are RE/Max agencies. I find my REO’s by having a Realtor who works with me look them up in the MLS listings. She then submits the offers through the listing agent for me.

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