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Answers (7)
- abandapple
- Contributions:2
Thank you all so much for the info. I have tracked every court hearing and docket entry from day one so I have that and the property is vacant. I was able to peek in the windows and get the sheriff sale info off the door. The door has been padlocked. The association is under the impression that this person still owns it but has vanished. What I gathered from the recorders website is that it is with a holding company in Calf. I am in Ohio. I have a real estate person but I am not confident that he is as tenacious as I am in pursuing this so I initiated and did all the homework. I am thinking maybe I should look into a REO agent.
I look forward to more results because the more information I can gather, the bigger gun I can carry....Thanks
I look forward to more results because the more information I can gather, the bigger gun I can carry....Thanks
- David Cooper-Las Vegas, "LasVegasRents"
- Contributions:281
The court documents will show you which bank the condo was returned to.
You have to find the REO department at the bank. I have bought foreclosures directly from the bank REO department, but you will be buying "as is", no inspection contingency
David Cooper
You have to find the REO department at the bank. I have bought foreclosures directly from the bank REO department, but you will be buying "as is", no inspection contingency
David Cooper
- Joanne Bawden, "Joanne Bawden"
- Contributions:1
Connie and Cathy are right, find a good buyer's agent to do some work for you.
Sometimes, even if you know the bank which holds title, it may be assigned to an outsourcer to sell - and they will assign the listing to an agent. Set up an alert and wait for it to come up on the MLS (no guarantees when that will be due to occupancy issues, valuations, trashouts etc). To truly get your finger on the pulse, have you or your agent find out who the listing agent will be. You should drive by the property to check for listing agents' sign and/or posted notices on the windows (if property is vacant). Another idea is to search for the address on the internet and there is a slight chance it could be on the assigned agents "coming soon" property list. However, even if you find out who the listing agent will be, they can only estimate when they expect the list price from the seller.
As Connie mentioned, banks almost always do require it be listed on the MLS, so you may have some competition, especially as many lenders are now requiring a minimum marketing period before looking at offers. But get your offer ready anyway, financing in place and submit as soon as it hits the market through your agent.
Sometimes, even if you know the bank which holds title, it may be assigned to an outsourcer to sell - and they will assign the listing to an agent. Set up an alert and wait for it to come up on the MLS (no guarantees when that will be due to occupancy issues, valuations, trashouts etc). To truly get your finger on the pulse, have you or your agent find out who the listing agent will be. You should drive by the property to check for listing agents' sign and/or posted notices on the windows (if property is vacant). Another idea is to search for the address on the internet and there is a slight chance it could be on the assigned agents "coming soon" property list. However, even if you find out who the listing agent will be, they can only estimate when they expect the list price from the seller.
As Connie mentioned, banks almost always do require it be listed on the MLS, so you may have some competition, especially as many lenders are now requiring a minimum marketing period before looking at offers. But get your offer ready anyway, financing in place and submit as soon as it hits the market through your agent.
- CATHY SLOAN
- Contributions:477
Connie's answer is dead on. Find a an agressive Buyer's Agent to do a little pre-investigative work for you so you are ready the first day the property is on the market.
Chances are there is a local REO agent in the area preping the home for listing They are waiting for the new owners deed to be recorded in public records before they will list the property.
Chances are there is a local REO agent in the area preping the home for listing They are waiting for the new owners deed to be recorded in public records before they will list the property.
- David Cooper-Las Vegas, "LasVegasRents"
- Contributions:281
There are a couple of subscription services that track foreclosures from the first notice thru the auction. They will provide you with the bank that owns the property and you might be able to deal direct with the REO manager before it gets listed.
Dasvid Cooper
- Derek Zasaretti, "Derek_Zasaretti"
- Contributions:343
Realtor.com is also a good site. They are pretty up to date with listings now. They are pretty much in tune with the MLS.
- ConnieK_Oklahoma
- Contributions:2899
you should be able to have an agent in the area set an alert on their MLS for that house. nearly all MLSs have those automated searches. they can create a search on that address, and as soon as it is listed (like within minutes) the feature would email you to say it's on the market. I'd be surpised if the feature isn't there, you might find an agent that doesn't know how to do it but it's most likely there so have them check into it for you.
banks typically always list in the MLS to sell it.
there are exceptions (i don't know of any but it is possible) so this isn't a perfect solution but pretty close.
banks typically always list in the MLS to sell it.
there are exceptions (i don't know of any but it is possible) so this isn't a perfect solution but pretty close.
How can you find out when a home is going up for sale after foreclosure?
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