I Am A Newbie and this question migh seem bumb

Foreclosures, Short Sales, Tax Foreclosures
1

Is It true that agents who handle Reo for the bank will do assignable with you , someone told me that and I thought it might sound crazy, but I wanted to know, just in case it is not and if so how?

Also if an agent is on a house for the bank a property that is in foreclosure, can you still go and make an offer on the property to the owner, or shall i say would it be wise to go and make an offer on a property to the owner if the property has an agent on it?

thanks

2

REOs are not assignable

Also if an agent is on a house for the bank a property that is in foreclosure, can you still go and make an offer on the property to the owner, or shall i say would it be wise to go and make an offer on a property to the owner if the property has an agent on it?

thanks


Think you might have some confusion here. If the bank owns the property (after foreclosure), then there is no homeowner left to deal with. You would deal directly with the RE agent representing the bank.

If the foreclosure is still pending and the owner has a contract with the real estate agent, you need to go through them. The owner will likely still be responsible to pay the realtor’s commission even if they deal direct with you. The realtor has an obligation to submit every offer to their clients, so go ahead and make your offer.
Don’t try to circumvent this, as word will get around the investment community, and won’t help your reputation.