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If a house has been bought back from the bank but not yet for sale, is it possible to purchase?

Hi! I live in Cincinnati and am in the market to buy a home for myself. I found one I really like that was foreclosed  and the bank bought back on 2/6/14.  The auditor's page now has the owner listed as Citigroup in Missouri.  Can I contact them directly or is this something that I should find a good realtor to do??  Thanks so much for any help anyone can offer!!!
Nichole
  • May 13 2014 - Cincinnati
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Answers (4)

I am a Cincinnati Realtor.  If you send me you contact info and the property address I can set you up on an MLS Portal to let you know the moment it is listed on the market.
  • June 06 2014
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Nichole
In Ohio, you will need to wait until the bank lists the property with a Licensed Broker (real estate agent).  Find a local realtor and ask them to set you up a portal on the Cincinnati such that you get all new listings on the street where your target property is located.  Your will thus be the first to see the property when it hits the market.  Reward you realtor by letting them make the offer on your behalf.  If you don't have a realtor, I can get this done for you.
Bob C
Coldwell Banker
Cleveland area
  • May 14 2014
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Federal law prohibits banks from selling real estate direct to consumers.  To this end they have a third party called the "asset manager" they pay to negotiate and sign on behalf of the bank and the entire transaction is handled through a REALTOR.

It is possible for it to become available soon.  Check with a REALTOR
  • May 14 2014
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Hello Nicole,

It sounds like a reasonable idea but, it highly unlikely they will ever call you back.  Imagine this: they most likely have thousands of files and if they dealt directly with Consumers it would be hard for them to manage the transactions.  If the mortgage was held by a local Savings and Loan you would have a much better chance of getting in contact and  buying the home.  
  • May 14 2014
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