Foreclosures or REO's..... do I have use a realtor? CanI buy direct form banks?

[John Richards]

Was hoping to pick up a foreclosed property that could use a little work and hopefully save some $ (I am a bit of a handyman) as a primary residence and then hopefully look at another property a little while later (6-12 months) as an investment or turn the initial purchase into a rental at that same time frame.

I called the REO/foreclosure departments of a couple different major banks and they said that ALL of these types of properties can only be purchased from the realtors.

Is this true? Any advice?

Thank you so much for any advice....it is greatly appreciated!!!