REO directly from the banks

[Jerry Beer]

Newbie question: what's the way to get listings directly from the bank? I know some local investors that are able to do that so there's gotta be a way...

[Alexander Felice]

Banker here: Unfortunately you are unlikely to find this

Banks giving out deals directly to consumers that are NOT in a bidding function is an opening to ton liability. A bank can't show you favoritism, and they must show that they made all efforts to get highest offer the market can produce for both stakeholders, and in the case of foreclosures, the previous owner.

If you go to a bank's website, they usually have their REO listed, but it will be the same as on MLS. MLS and auction sites is where banks sell foreclosed assets.