Durham, NC · Member since 2013 · 78 posts · 14 votes
I've come across a property I want but it is in foreclosure and in another city from mine. How do I go about buying this property? How do I find out which bank to contact to purchase it?
Where is it in the foreclosure process? If it has not yet gone to the sheriff's sale (trustee sale, etc.) then its still owned by the borrower. You have to find them and make a deal. If its been through the sale, the winner of the sale owns it. Might be the bank, might be someone else. Find the county recorders records for the county where the property is located and start searching. If it is owned by a bank they will eventually list it on the MLS. If its a small local bank, you might be able to contact them and buy directly. But a bank of any size will list it and get the best price they can. That process can take many months.