question on REOs

d_sbrown · April 13, 2007, 2:09pm

Hey,

Am starting to do research on finding REO properties. Is the best way to simply get a realtor involved to search for which properties are owned by banks, and then have them make the offers, or is there other ways to get information on REOs that are on the market?

Thanks,

DB

LoriK · April 13, 2007, 3:41pm

You can either go with a realtor, or contact the bank REO department directly (if they don’t list with a realtor).

You can view properties here http://www.thedirectoriescompany.com/reos.htm

Just click on a bank’s name and see what is in their inventory.

A good realtor will give you a head’s up as soon as an REO hits the MLS. They usually don’t last too long, depending on the market - so speed is of the essence.

d_sbrown · April 13, 2007, 4:58pm

Thanks Lori, Have you used realtytrac.com? I came across this site and it looked like it could be useful.

DB

LoriK · April 13, 2007, 5:00pm

It’s not worth the money. Do a search on the forums, the consensus is not good.

d_sbrown · April 13, 2007, 5:11pm

Yea, I was just reading a search on it and came back to erase my question.

Thanks

DB