Updated over 10 years ago on . Most recent reply
Buying an unlisted REO
Hi BP Fam,
I have a question regarding methods to purchase an unlisted REO. My husband located a vacant home in a really desirable neighborhood here in Orlando. He confirmed with the next door neighbor that the house has been vacant for a year. I researched the property on the county's property appraisal site and indeed it is a bank REO. The property isn't listed on the bank REO site. Zillow shows also that it was sold for $800 to the bank. Any ideas on next steps? Thanks in advance everyone!
Most Popular Reply
Most banks today are mandated to put individual properties on the open market for sale. This affords them an opportunity to get the best price (and the end of the 'secret side deal' Era). More than likely, you will have to wait until it is listed for sale.