Profile picture for almarodriguez0712

I saw online a home foreclosed by a bank.

I was wondering if the bank will just auction it to the public or can i hire a real estate agent and help me buy the home like a regular home?
  • October 23 2013 - Bakersfield
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Answers (7)

Profile picture for HomesinCentralMass
It depends on the bank.  Some may hold the property a while.  Best thing to do is sign up for listing alerts with a local realtor.
  • November 13 2013
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Profile picture for mysterioushands
i see the same houses that say foreclosed but they are not on any realtor listings. these houses have been on the market for 6 months saying they are in foreclosure and i cannot get any information on which bank owns it or anything. 
  • November 13 2013
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Hi,

In Georgia the lender will auction the house at the courthouse steps. If there are no takers then they will take it back and put it on the market with a realtor. You should find a good realtor in your area who works with a lot of buyers and let them get you set up on a search for the kind of properties that you are interested in. A realtor can do all the behind the scenes legwork for you so all you will need to do is just let them know which ones you like and they will set up the showings for you.

  • November 12 2013
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Hi Alma,

If it we're me I would be set up on the marketing listing service.  This service can be provided by any Relator.  The site will send you the listing as soon as the bank lists it on the market.  Hope this was helpful?
  • November 12 2013
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Profile picture for CallTheSisters
The bank still has other legal matters to take care of after the foreclosure.  It may need to be cleaned out as well.  Once it is ready the bank will assign a real estate agent to sell it.

Find a buyers agent in your area who will keep a watch for it hitting the market and let  you know just as soon as it becomes available.
  • October 29 2013
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You will need to wait for the bank to list the home with a real estate agent.

If you have a local real estate agent working for you, they can often set up an auto search on their local MLS which will automatically email you when the property is listed on the MLS.
  • October 23 2013
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Usually, if you are looking at the public notice that the bank just foreclosed, then they will eventually put it up for sale, almost always with a Realtor.  You can try and go directly to the bank yourself, and may have some luck if the bank is a smaller player. If it is one of  the mega-banks, you will have a hard time finding a person to talk with, and most likely, their policy will require the home to be marketed professionally, to have proper market exposure, so their liability is limited.
  • October 23 2013
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