How can I find out what bank owns the REO?

How can I find out what bank owns the REO?

Member since 2008 · 4 posts · 0 votes

The real estate agent working for the bank won't share that information. We submitted an offer and she never responded. I finally called her and got a hold of her, she said they received a different offer and will be going with that, but the property is still listed on MLS! I don't believe the agent submitted the offer I sent to the bank, how can I find out who the bank is? What options do I have?

Thanks in advance,
Jimmy and Sandy

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  • Real Estate Consultant · Little Town, OK · Member since 2008 · 688 posts · 21 votes
    18y

    Title search

  • Member since 2008 · 4 posts · 0 votes
    18y
    Originally posted by "Oklahoma1":
    Title search

    Excuse the novice in me, are internet title search companies trustworthy? Or should I go somewhere local?

  • Rental Property Investor · Mercer Island, WA · Member since 2008 · 22k+ posts · 14k+ votes
    18y

    Contact one of your local title companies, and they should be able to set you up. If you've already done a deal, contact the one that closed that deal.
    Jon

  • Scottsdale, AZ · Member since 2008 · 342 posts · 15 votes
    18y
    Originally posted by "JimmySandy":
    The real estate agent working for the bank won't share that information. We submitted an offer and she never responded. I finally called her and got a hold of her, she said they received a different offer and will be going with that, but the property is still listed on MLS! I don't believe the agent submitted the offer I sent to the bank, how can I find out who the bank is? What options do I have?

    Thanks in advance,
    Jimmy and Sandy

    Is your offer Financing or Cash? This will make a difference with the Bank if they are recieving multiple offers.

    Just because there is an offer in doesn't mean it goes off of MLS right? This offer may fall through and backup offers will be considered.

  • Ft. Worth, TX · Member since 2008 · 97 posts · 16 votes
    18y
    Originally posted by "JimmySandy":
    Originally posted by "Oklahoma1":
    Title search

    Excuse the novice in me, are internet title search companies trustworthy? Or should I go somewhere local?

    If you're just interested in the current owner of the property, go to the county tax assessor's website and look it up. From that information you can then go to the county clerk's website to get more information.

    At least, that's worked for me with properties in Tarrant county, Texas. I started at www.tad.org to get the current owner and the document number of the current deed. I then did a document search on the county clerk's website with that document number.

  • Real Estate Investor · liberty township, OH · Member since 2008 · 149 posts · 6 votes
    18y

    i can speak for counties in ohio now.. but all you have to do is go to the county auditors web site and do a search on the property.... but might i add that buying a REO is sometimes not an easy process... hell for that matter it never is..,, All you need to do is be patient

  • Member since 2008 · 4 posts · 0 votes
    18y

    Thanks for all the helpful replies. I found out who owns the property (CIT) and which regional office. I called the number listed on their website, but the CSR doesn't even know what an asset manager is or if they have one!? How can I find out who that peron is? Thanks again for the help.

  • Real Estate Investor · liberty township, OH · Member since 2008 · 149 posts · 6 votes
    18y

    you know i work in the aviation business as a dispatcher and when you ask people what is a dispatcher in the aviation field they look at you like you have 2 heads... Most, if not all, csr's will probably have no clue as to what you are looking for... this one is going to take a lot a digging and from what i have been told a lot of kissing butt!!!

  • Scottsdale, AZ · Member since 2008 · 342 posts · 15 votes
    18y
    Originally posted by "JimmySandy":
    Thanks for all the helpful replies. I found out who owns the property (CIT) and which regional office. I called the number listed on their website, but the CSR doesn't even know what an asset manager is or if they have one!? How can I find out who that peron is? Thanks again for the help.

    My company manages a CIT portfolio, send me a PM/email on Monday with the property info and I will check if we are servicing it.

  • General Contractor · Warrenton, VA · Member since 2008 · 72 posts · 10 votes
    18y

    >We submitted an offer and she never responded.<

    Technically the realtor has to give the offer to the client. No matter how crazy the offer. If she did not pass the offer along it might be worth contacting your local real estate board... A couple complaints and I am sure she will start singing a new song, or have her license pulled. Better yet contact her broker and tell them that she is costing them money by not closing deals!

    Okay, that might be mean, but you get my point.

  • Real Estate Investor · CA · Member since 2008 · 4 posts · 0 votes
    18y

    Check online. Each bank lists their properties online.

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