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Updated almost 9 years ago on . Most recent reply

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Arthur Picanco
  • Peabody, MA
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I found a vacant home

Arthur Picanco
  • Peabody, MA
Posted

Hi. I am brand new to this game and im not really sure how to go about doing things. I just found a home in my city that is vacant and I believe could be flipped for a profit. The paperwork on the door says to contact the bank which is BOA and talk to them about buying the property. If it i owned by the bank could i still wholesale it? There was a number to the bank on the paper on the door, should I call them and try to work out a deal? Not sure what to do.

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Wayne Brooks#1 Foreclosures Contributor
  • Real Estate Professional
  • West Palm Beach, FL
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Wayne Brooks#1 Foreclosures Contributor
  • Real Estate Professional
  • West Palm Beach, FL
Replied

That's posted by the preservation co. doing the maintenance, so you don't call Them.  A call to the bank will be useless, they're going to list it eventually and aren't going to deal with you individually.  It also requires a proof of funds, or a preapprovals, for a bank to consider any offer, at that point.

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