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how to buy a foreclosed house?

Hi,
Today I found a nice house to buy on zillow.com. But it was unfortunately sold to the lender, freedom mortgage company. The house is in college park, MD. I am a first house buyer and how I am able to buy the house without auction. Is it a way for me to contact the company directly?
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December 05 2013 - US
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Answers (1)

What I would do, is find a Realtor and ask them to check into purchasing a home. Foreclosures will more than likely be listed with a real estate agent, or by a rep from their company, as an REO (Real Estate Owned) aka bank owned property. It will be listed just as a normal home, but there are some other terms and such in the purchasing and lots of little things that are required. 

Lots of people think "buying a home is easy, what do I need a Realtor for!" and the reality is, not many people successfully purchase or sell a home without a Realtor, because we are trained and educated to handle these deals. A foreclosure especially would be tough to handle on your own. A realtor is your best bet in finding out where it is listed (if it is listed) and if not, when or if it will be and start the process of negotiation with the bank. 

Hope this helps!
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December 05 2013
 
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