The #1
Real Estate Investing
Community

Sun, Nov 08, 2009 
Topics 'N Comments
Forum Topics
* Tax Lien Investing Llc Formation
* Insurable And Marketable Titles
* Submetering Will Save Energy Cost For PM And Tenants
* Foreclosures As An Opportunity?
* Vandalism Charges Against Tenant?
* Tax Deed Question (Detroit, MI)
* Question About A Deal - "too Good To Be True"?
* Short Sale Fraud And Federal Prosecution
* Beyond Upside Down...Help With Options!
* Seasoned Investor Needs Advice On 16 Unit Building

Comments
* But Jason doesn''t...
* Great Idea! But the...
* If anyone offers...
* Thanks for posting...
* Jason.... You''re...
* Don''t do business...
* Jason, Something ...
* bargain76... THANK Y...
* Jason, one of these...
* Right on, Kim ...
Contact Us
703-778-5755
Login Problems?
Sales
Support
Feedback
Recommend Us
History and Purpose of TCI


Advertise on our site
Advertising Login
Sell Your Product Here!
Official PayPal Seal
Send this to:                            

Some Suggestions for finding REO's

Wednesday, April 23, 2003 @ 05:00 AM EDT Printer Friendly Page  Printer Friendly Page
Send this Story to a Friend  Send this Story to a Friend

Contributed by: Edward Nolan

Edward Nolan Properties

Read more archived articles about Foreclosures

You could ask a realtor to give you a listing of homes for sale ($30k and under) in a particular city. The banks, when they foreclose, if they win at the sheriff sale, list the homes for sale through realtors from within their REO offices.
You could get a listing of future sheriff sales from the county and then in the auditors/clerks office look up each address to see where the tax bills are being sent.`Most of the time the bill goes to the banks since many people opt to pay a little at a time towards their taxs when they make their normal monthy paymnet. It will also give you
 
Advertisement
the bank address and a code for the banks phone number that the clerk could look up in another book for you so you can call the bank and put in an offer. But, since you already have a listing of future sheriff sales, you could always drive by the properties to see if anyone still lives in them and then talk to them directly. If the home is vacant knock on neighbors doors and tell them you want to buy the home and fix it up for the neighborhood. They'll be more than willing to tell you how to get in touch with the people who use to live their or point you in a direction.

There is an online financial company I use quite a bit. They list all their REO's for every state. The company is Ocwen Financial Corp. Any one can search for residential and commercial for free. Simply go to http://ocwen.com/




Word Cloud:
sent.`most sale ($30k through with number little city. book sales more directly. homes financial time office them drive lives phone talk reo's http://ocwen.com/ point suggestions neighbors they'll but, code will have free. sheriff realtor many bill live offices. then /> there direction. tell paymnet. list residential since towards still bills county make they give quite commercial taxs corp. always want look another ocwen /> you bank neighborhood. some call auditors/clerks normal than monthy each sale, banks, could listing when already knock address where finding clerk realtors state. touch simply sales, vacant offer. particular under) home company willing being bit. online every future properties also goes foreclose, search within anyone doors banks people

 
Username or Email

Password

Remember Me:

Join 241,757 other
members FREE!
· More about Foreclosures
· Other articles by Edward


Most read story about Foreclosures:
Finding Real Estate Pre-Foreclosures

Average Score: 3.28
Votes: 7


Please take a second and vote for this article:

Bad
Regular
Good
Very Good
Excellent



Printer Friendly Page  Printer Friendly Page

Send this Story to a Friend  Send this Story to a Friend

Threshold
Logged In members can moderate all comments.
Re: Some Suggestions for finding REO's (Score: 1)
by DaveT on Wednesday, April 23, 2003 @ 10:59 PM EDT

First, if the property has not been to the foreclosure sale (sheriff sale), then is it not a bank REO yet? It is my understanding that the bank only takes possession when the bank is the highest bidder at the foreclosure sale. It would seem pointless to make an offer to the bank prior to the foreclosure sale, when the bank is not yet the owner of the property.

Last, why not start your search for bank owned foreclosure property (REO) on the internet? In my local area, four prominent institutional lenders each have an "Available Properties" link on their websites. Clicking on the links gives me a short description of the property, general location, asking price, and a point of contact for the person who will answer questions, show the property, and accept your purchase offer.[ No Comments Allowed for Anonymous, please register ]



  • Re: Some Suggestions for finding REO's by NathanElder on Monday, May 12, 2003 @ 12:24 AM EDT



  • Real Estate News | Real Estate Investing Articles | Real Estate Investing Gurus | Real Estate Forums | Real Estate Lenders | Real Estate Investing Groups | Real Estate Course Reviews | Real Estate Services | Real Estate Courses | Investment Properties | Real Estate Search | Commercial Properties | Land For Sale | Houses For Sale | Houses For Rent | Real Estate Comps | Sell House Quick | Sell House Fast

    The Creative Investor web site was created for Landlords, Property Managers and Real Estate Investing community.
    Through using our forums, investors will be able to talk about finance, no down payment purchases, debt payoff, purchase strategies and current real estate news.
    Privacy Agreement and Terms of Use. All logos and trademarks in this site are property of their respective owner.
    The comments are property of their posters, all the rest 2002 by PropBot.com L.L.C.