Buying REO properties

[Carol Lam]

Can I buy REO property directly from a bank?  If the bank has taken the property as REO, then all the loans would have been forgiven, correct?  The title would also have been cleared.  Do I just call the REO department and make an offer?

Thank you for your information.

Carol

[Carol Lam]

Thank you for the reply.

I live in Bay Area.  After Powell said he will pencil in 3 rate cuts, the housing market started the craze again (Bay Area heavily tied to stock market).  Is it true direct sale from banks is not likely in a hot market?