Real Estate Investor · NY · Member since 2008 · 2 posts · 0 votes
What is the process once I go to the county office? (NY) Lets say I look up the parcel numbers and find the REO's. And I find something I am interested in, and I know the price they are asking. Do I speak to someone at the office or fill out some paper work or is there another process involved.
Thank you for your time I appreciate any help with this.
REOs. Other Real Estate Owned by a regulated lender. Property they need to dispose of and they can not just sit on it.
If a lender has REO property they almost always hand the disposal over to a professional. A RE agent or an asset management company that focuses on handling disposals.
If you want to call the lender who owns the REO then call them. Likely most people who answer the phone will not know what you are talking about. When you do get to someone you will likely find there is an agent that they will refer you to who has the info and can handle any discussion.
I have called a number of lenders in the past.
If you wanted to buy a portfolio then they might want to talk direct. If that is the case have your lawyer call their lawyer as that will get you to the decision maker quicker.