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Updated almost 6 years ago on . Most recent reply

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Drew Culp
  • Martinez, CA
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How to make offer to bank owned property?

Drew Culp
  • Martinez, CA
Posted

I found a property that had a reverse mortgage and the owner relinquished the property to the bank. The property has been empty for 6 months. Any tips in finding the bank to try and make an offer?

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Ron S.#3 Foreclosures Contributor
  • Paradise, CA
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Ron S.#3 Foreclosures Contributor
  • Paradise, CA
Replied

Can't make an offer to the bank unless they own it. They don't (won't) own it until/unless they foreclose and no one bids at the sale. Then, when they do own it, they will list it, and you'll talk with their realtor if you want to purchase it but, not the bank.

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