How to get Forclosure or REO Listings? (buyer's agent, Realtor, listing)

[Epyon]

I am looking for a good deal and not in a hurry, and would like to get listings of REO homes with details.

I wonder if anyone here can recommend a good source. Thanks,

[Dbatiste]

I am not a real estate broker. However, some banks provide this information on their website. Some give pictures and details while others just give the address. Check out:

Bank of America
Chase
HSBC
Wells Fargo (pasreo.com)

Good luck!

[shellytc]

just because a house is a REO does not make it a good deal. There are many avenues to get to a good deal. You should do due dilegence in all of them. And REO's are listed in the local MLS, so any real estate agent should be able to help you. : )

shelly

[1stfamily]

i found an REO condo investment property on homepath.com they have alot of listings

[middle-aged mom]

Originally Posted by 1stfamily

i found an REO condo investment property on homepath.com they have alot of listings

Homepath shows some of foreclosed properties owned by FNMA.
Homesteps shows some of the foreclosed properties owned by FHLMC.
All of these properties are listed in the MLS and show on realtor.com.

The listing agent may or may not show you the property. Some listing agents of forclosed properties do not deal with the general public. They expect you to have your own buyer's agent.

[middle-aged mom]

Originally Posted by shellytc

just because a house is a REO does not make it a good deal. There are many avenues to get to a good deal. You should do due dilegence in all of them. And REO's are listed in the local MLS, so any real estate agent should be able to help you. : )

shelly

And yet so many website create the perception that there is a secret back door/inside track. I guess they persist because consumers do not know better. Banks do not FSBO because banks want the property sold.

[Epyon]

Originally Posted by middle-aged mom

Homepath shows some of foreclosed properties owned by FNMA.
Homesteps shows some of the foreclosed properties owned by FHLMC.
All of these properties are listed in the MLS and show on realtor.com.

The listing agent may or may not show you the property. Some listing agents of forclosed properties do not deal with the general public. They expect you to have your own buyer's agent.

Thanks for the information!

[stuffavail]

Originally Posted by Epyon

I am looking for a good deal and not in a hurry, and would like to get listings of REO homes with details.

I wonder if anyone here can recommend a good source. Thanks,

-----------------------
If you have cash to spend, you will be in the best position to buy an REO.
There are many many cash buyers out there who are gobbling up these low priced properties.

There are phenonomenal programs that help people buy REOs but I have yet to see a cash offer be beat by one that reqires a loan.

The losing banks hire asset managers to get rid of the REOs so the banks dont have them on their books.They sell them as quickly as possible ie to the first cash offer they can verify, and since and mortgages take time people needing loans are pretty much left hanging.

It's not right.

[Chuckity]

Originally Posted by stuffavail

-----------------------
If you have cash to spend, you will be in the best position to buy an REO.
There are many many cash buyers out there who are gobbling up these low priced properties.

There are phenonomenal programs that help people buy REOs but I have yet to see a cash offer be beat by one that reqires a loan.

The losing banks hire asset managers to get rid of the REOs so the banks dont have them on their books.They sell them as quickly as possible ie to the first cash offer they can verify, and since and mortgages take time people needing loans are pretty much left hanging.

It's not right.

Why isn't it right?

It can be frustrating and annoying - but it's not like it's unfair.