Profile picture for user767718

How should I word a letter that i'm writing to a bank that has a forclouser that i'm interested in?

  • July 22 2012 - Greenville
  • 0
    0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

Be a Good Neighbor. Be respectful and on-topic. No spam or self-promotion! See our Good Neighbor Policy.

 
 

Answers (3)

Profile picture for Ofe Polack
Wait until the foreclosed property is assigned to a listing agent, then find yourself a buyer agent to assist you in the process.  Banks do not deal with buyers directly.
  • July 22 2012
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

Profile picture for Gabilan Properties
Save your time and ink. The banks don't deal directly with buyers. The REO will be assigned to an asset manager and then the asset manager will list it with an agent that is on their list of approved agents.

The assigned agent will then prepare a BPO (broker price opinion). The bank usually pays a second agent for another BPO, and a full appraisal from a fee appraiser.

The asset manager then decides a price to list the property at, any pre-marketing improvements and a marketing strategy.

Only then can you make an offer after it is listed for sale.

  • July 22 2012
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

Profile picture for Cindy Quinton
.Is it being advertised yet or is it still in the foreclosure process? It is very difficult to get any answers or find out any information until an agent has the property listed. It will feel a little like banging your head against a wall. I don't know what type of letter you're trying to write but as a general rule the banks are only interested in the bottom line how much money they will get for the property. Tell us a little more about what you're trying to do.
  • July 22 2012
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.