Submitting offer to Bank

[Jayson Portier]

Does anyone know about submitting offers to banks? Should I call? It says the property is in pre foreclosure. I talked to the owner and apparently she included the home in her bankruptcy so she no longer has the home. Thoughts?

[Jonathan Greene]

Preforeclosure is not a real thing. It means anything from one lis pendens filed and then cleared up to one second before a foreclosure auction. You will never, ever get in touch with the bank contact you need to directly. If it were that easy, everyone would just do that. You have to check if it's pending courthouse auction and if so, what the upset value is (how much they owe) versus the true value. Check if it's already been listed as a short sale. It may come on the market later as a REO most likely if it was part of a bankruptcy, but there is no way to get direct access at this stage.