Can I buy a run down property after a deed in Lieu but but before listing? efore

[Valerie Scasny]

I'm hoping someone here has dealt with a difficult REO acquisition.

I'm trying to purchase the neighboring property before it's listed. A deed in lieu of foreclosure was recorded (3 years after actual foreclosure. I wonder if my poking around brought attention to it) and the loan servicer (Nationstar/Mr. Cooper) appears to own it.

The problem is I've already tried the obvious routes. I've spent months calling Nationstar, been transferred from department to department, sent certified letters, worked with a local Realtor, ordered a title search, tracked down the recorded deed in lieu, and still can't get connected with anyone who has authority to discuss selling the property. It feels like I'm talking to a brick wall. They keep sending me to auction sites where it is not listed, and I want to buy it as is before it's listed. It is next to a piece of raw land we purchased and I'd rather put our money into fixing it up than start from scratch.

The property has recently started being mowed, so someone is managing it now, but it's still not listed.

Has anyone broken through in a situation like this? I'm looking for strategies, departments, contacts, or experiences that actually got you to the person who controls REO disposition.

[Jimmy Lieu]

Quote from @Valerie Scasny:

I'm hoping someone here has dealt with a difficult REO acquisition.

I'm trying to purchase the neighboring property before it's listed. A deed in lieu of foreclosure was recorded (3 years after actual foreclosure. I wonder if my poking around brought attention to it) and the loan servicer (Nationstar/Mr. Cooper) appears to own it.

The problem is I've already tried the obvious routes. I've spent months calling Nationstar, been transferred from department to department, sent certified letters, worked with a local Realtor, ordered a title search, tracked down the recorded deed in lieu, and still can't get connected with anyone who has authority to discuss selling the property. It feels like I'm talking to a brick wall. They keep sending me to auction sites where it is not listed, and I want to buy it as is before it's listed. It is next to a piece of raw land we purchased and I'd rather put our money into fixing it up than start from scratch.

The property has recently started being mowed, so someone is managing it now, but it's still not listed.

Has anyone broken through in a situation like this? I'm looking for strategies, departments, contacts, or experiences that actually got you to the person who controls REO disposition.

Welcome to BP! It sounds like you've already exhausted most of the normal channels. At this point I'd stop trying to get through customer service and focus on whoever is actually handling their REO inventory. One thing I've seen work is reaching out to the asset preservation company or field service vendor that's maintaining the property. If it's being mowed regularly, someone has a work order on it, and those vendors sometimes know which asset manager has the file or can at least point you in the right direction. I'd also keep an eye on the county records for any new assignments or transfers and monitor REO listing platforms daily because once an agent is assigned, you may finally have a direct contact. Another option is having your Realtor reach out to REO listing agents who frequently represent that lender in your area. They may not have this property yet, but they often know who the asset managers are and can sometimes make an introduction. Unfortunately, large servicers can move incredibly slowly, so persistence is usually what wins these situations. Happy to connect and answer any questions you have!