How do I find the bank of a REO?

Do you have any of the original information concerning the case of the foreclosure? There should be a Lender and address listed. You can call with the case number to get more information.
You could contact the county treasurer's/assessor's office to see what owner the property is now under. Depending on when it went back to the bank (if there's been enough time for the title transfer), that should also be the lender's name and address.

Hope that helps.

Rina

REO property is almost always listed thru an agent. The agent will put it on the MLS and it's ready for a buyer. The seller of an REO property is the lender who now owns the property that was foreclosed on and was not sold at auction. so, when you are making an offer, the seller is... the bank.

The 2 most important things you need are right there. It is almost for sure a RE agent has the listing, and if you can go to the county building to research the orignal foreclosure papers a bunch of your questions will be answered. Don't be afraid to go to the county building and ask questions. When I go, I ask the most off the wall questions and the people there feel so sorry for me because they think I am dumb, that they help me all the more to get me out of their hair.There is a method to my madness. Good Luck...Jan

get the address of the property and go to your county records. Look that property up by address and you can pull up the lender on that property.

If you have on line access with your county recorders office, there is a great site to look up the info at your home. It is www.netronline.com. Just click on Public Records Online, go to your state and then county. Hope this helps

I found a 4 unit REO home in distress. I like the price but the locations is in a bad neighborhood. I'd like to fix it and make it a rental property. What problems will I incur and should I be afraid of making money in this bad area? Help!

What problems will happen when purchasing property is a hard answer to give. There always seems to be problems that were not accounted for when purchasing properties. One that I would look at when purchasing in lower income, higher crime area is how bad is the crime - really? I like to call the local police office and ask for the public relations officer. This officer can give you information about the local area's crime and even specific property crime. This would help me to know how much of a war zone I am in.

get the property address and look up the property at your county records. You can then find the lender in those records.

We can use some creative methods such as seller financing, where a seller will carry some or all of the contract purchase price. A lease option is another way to be creative with a purchase using a lease with option to buy. You may have some down payment and then a stream of payments, and then a buy at a predetermined time in the future. A third method is assignment of contract whereby you write a contract on a property with the words "and/or assign" after the buyers name. You can then assign that property without ever financing it. You would "assign" it to another buyer that would effecttively buy the property from you. No financing involved on your part.

get address and go to county records, they should be online. look by address and that will give you the owner and the lender. If cannot locate owner then call lender and negotiate with them.

Two methods may be used. You can look up the property record by address at the county records. once you pull up the property you will see the lender. From there you can contact the lender and begin negotiating with them. The other method will be using the MLS thru a realtor. REOs are usually listed on the MLS and your realtor can give you a list of the REOs.

You can either buy foreclosure lists or do your own homework and go to your county records. Once you are online there should be a foreclosure section to go to. If you cannot find this section call the county and ask how to access the foreclosure list. Once you have the list you have 3 ways to contact the owner, telephone, mail, or in person at the property. Once you have someone interested then proceed on negotiating the purchase price.