I have found an REO property that i WANT BADLY. it was bought back by the back at 100,000 less than tax appraised value, has only minor fix ups, in a great area, etc. it was listed on auditor’s page as a certain bank owning it…after about 20 phone calls come to find out they are trustees and loan is serviced by GMAC mortgage. I get ahold of the right branch finally and they say that nothing can be done before it is actually listed with an agent and i can’ t get any further. I want to buy the property before it’s listed “as-is”. any suggestions on how to get around this (if possible?)
You’re not going to get around it. GMAC will not sell until it’s listed.
What you might be able to do is find out which agent in your area that GMAC usually uses and let them know ASAP that when/if they get the listing on the property at xyz address, that you’re interested in buying today.
Even though the property isn’t “listed” yet, the lender probably assigned it to an agent weeks or even months ago. The lender needs someone to do an occupancy check, a BPO and other items, so that usually falls to the agent that will be listing the property.
Thanks guys. i have already been looking to see if i can find what agents they work with in the area. wish me luck!