REOs skipping the MLS
I have seen a few REO properties that have been sold without ever being listed on the MLS. I'm just wondering how they are doing this. I have watched the properties go to sheriff sale and the bank take possession of it then within a couple months sold to an individual without ever hitting the MLS. Is the realtor just not listing the property and selling it to someone to make double commission? Or is the bank doing a behind the scenes deal? Has anyone else seen this happening?