USDA foreclosures contact

Greensboro, North Carolina
Buying & Selling Real Estate
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USDA foreclosures contact

Brian GainesPro Member
Member since 2022 · 6 posts · 0 votes

Has anyone had success purchasing USDA foreclosures? I have a USDA property that was foreclosed on over two years ago that I tried to purchase initially and couldn’t figure out how to get past the local office to someone who could help close the deal. It’s still obviously not back on the market and I’d love to try to purchase it again if I knew the best way to go about doing it

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Chris SeveneyBusiness Member
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Investor · VA · Member since 2015 · 21k+ posts · 19k+ votes
1w

If it is not listed for sale yet, I would not waste or spend your time trying to figure it out and find a contact. Wait till it comes on the market and then attempt to buy it at that time 

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  • Rick Albert
    Real Estate Agent · Los Angeles, CA · Member since 2018 · 2k+ posts · 1k+ votes
    1w

    I haven't dealt with this scenario specifically but when I was digging into trying to buy foreclosures before it goes on the market the response from one expert was that banks don't generally sell off market. They have investors to account for and the only way they can say they got the best price is if it goes to auction/onto the MLS.

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  • Gregory AcsPro Member
    Lender · MD · Member since 2025 · 187 posts · 71 votes
    1w

    Brian, I've heard of investors successfully purchasing USDA foreclosures, but the process can definitely take some persistence. If the property hasn't been listed for sale yet, it may still be working its way through the USDA's internal disposition process. USDA REO properties are generally marketed through the agency's resale portal once they're ready, so it may be worth checking there periodically and reaching out to the appropriate USDA Rural Development office for guidance on the property's status.

    If you're eventually able to move forward with the purchase, I'd also recommend having your financing lined up in advance so you're ready to act when the property becomes available. If you'd like to discuss financing options for a USDA foreclosure or another investment property, I'd be happy to help.

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  • Chris SeveneyBusiness Member
    Moderator
    Investor · VA · Member since 2015 · 21k+ posts · 19k+ votes
    1w

    If it is not listed for sale yet, I would not waste or spend your time trying to figure it out and find a contact. Wait till it comes on the market and then attempt to buy it at that time 

    7e investments53 Reviews
    WebsiteView Page
    1Reply
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