Exciting Question on Pre-Listed REO's

[Jim Beardsley]

I'm sure this is a fundamental question but I have a buyer wanting to make an offer on a property that has been foreclosed on but has yet to be listed. Where do I go with BofA to talk to someone? Thanks for all the brain power here under one roof.

[William D.]

Given that it it BofA it is going to be tough to do. First off, its impossible to tell who the actual beneficiary of the foreclosure action was. The action may have been brought in the name of BofA but owned/guaranteed by FNMA. If this is the case, there is almost zero chance of your offer being considered pre-FNMA REO. However, if it was bank owned or being serviced on behalf of a conventional investor you may be able to get an offer reviewed. If I were you I would look to see who the attorney was who signed any of the paperwork on behalf of the bank and send the offer directly to him. While they may not be retained for purposes of selling the property they may be able to at least put you in the right direction regarding whom to submit an offer to for consideration. Good Luck. It is not an easy task.