Buying a bank-owned home before it's listed

[EastSider]

[jillayne]

Eastsider,

This person wrote a whole series of blog posts about contacting Deutsche Bank's REO department.

http://realestatecircleville.wordpress. ... epartment/

[davidlosh]

The bank wants to talk to you, pick the bank. Go to the office. It's easy to get you off the phone it's hard to get you out of the office. plan on spending the day.

Another resource that Jillyanne mentioned is the Trustee. Go to the office, go to an auction, talk to the guys with the paper work on the phone.

Really talk with an agent who deals in bank owned properties. Call around for a list of bank owned properties. Eventually you'll get around to the hand full of people who deal with banks in your area.

You're probably going to need the agent anyway. There are bankruptcy attorneys who also deal with banks.

Start your search on bank owned properties then keep at it. Avoid the foreclosure classes, go to the auctions, keep your mouth shut, listen the first few times, then when people get used to seeing you there, or some one asks you a question, you say you're just trying to figure it out.

If you are looking for this to be easy, it's not. Every body is playing it close to the vest. If it's easy it's not a deal. Eventually people will just give you information. You really need to pay some dues first and time is cheaper than money. It is a way of life for a lot of these people and you will see the same group of people repeatedly.