Can I buy a run down property after a deed in Lieu but but before listing? efore

Realtor · Hanover Twp, PA · Member since 2018 · 3k+ posts · 3k+ votes

2mo

1. I'm not sure you will get an inside track here. Even if you get a hold of a point of contact about this property they may not be allowed to sell it directly to you without exposing it for public sale.

2. You said, someone is mowing the lawn. I would try to catch them and talk to them and work backwards.

3. Did you check the house for posted notices? Often times when a property preservation company is hired to care for a property they post a notice on the outside of the house with contact information. This may be another way you can work backwards to a point of contact about the property.

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Valerie Scasny
OP
Member since 2026 · 7 posts · 3 votes
2mo
Quote from @Kevin Sobilo:

@Valerie Scasny,
1. I'm not sure you will get an inside track here. Even if you get a hold of a point of contact about this property they may not be allowed to sell it directly to you without exposing it for public sale.
2. You said, someone is mowing the lawn. I would try to catch them and talk to them and work backwards.
3. Did you check the house for posted notices? Often times when a property preservation company is hired to care for a property they post a notice on the outside of the house with contact information. This may be another way you can work backwards to a point of contact about the property.

Thank you for the reply. We are going to try to catch anyone out there when we can to ask. We actually live an hour away and only go there to work when we can. We do plan to be there a lot this weekend. The previous owner is still our neighbor and he is keeping an eye out for people as well. He said someone else came out also and actually went inside. There were notices before but they just mentioned that it should be uninhabited and something about nothing to do with sales. (I dont remember exactly but it was basically "report squatters to this number").
I know nothing about real estate except what I've learned working on this venture. I'd just let it go if it wasnt my dream property with a barn and acreage for horses.
Again I do appreciate you taking the time to reply.
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Chris SeveneyBusiness Member

Moderator

Investor · VA · Member since 2015 · 21k+ posts · 19k+ votes

2mo

Until it actually gets listed with an agent that will be nearly impossible to try and strike a deal to buy the property before then unless it is on an auction site. The experience you have had to date is very common and we see a lot of posts here on BiggerPockets of people thinking they’ll be able to get with the service or a lender to buy a specific asset her property which is now impossible

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Valerie Scasny
OP
Member since 2026 · 7 posts · 3 votes
2mo
Quote from @Chris Seveney:
Until it actually gets listed with an agent that will be nearly impossible to try and strike a deal to buy the property before then unless it is on an auction site. The experience you have had to date is very common and we see a lot of posts here on BiggerPockets of people thinking they’ll be able to get with the service or a lender to buy a specific asset her property which is now impossible

Im doing my best to check frequently for a listing. Bummer to hear it's now impossible. I dont know ow anything about real estate but I am trying very hard to learn as much as I can to get this place. It's not even for investment purposes it's my dream property.
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Chris SeveneyBusiness Member
Moderator
Investor · VA · Member since 2015 · 21k+ posts · 19k+ votes
2mo
@Valerie Scasny - keep watching it, eventually it will get listed but it will sell for market pricing - also recognize it probably needs a lot of work so it may not qualify for conventional financing and thus will sell to a cash buyer
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Valerie Scasny
OP
Member since 2026 · 7 posts · 3 votes
2mo
Quote from @Chris Seveney:

@Valerie Scasny - keep watching it, eventually it will get listed but it will sell for market pricing - also recognize it probably needs a lot of work so it may not qualify for conventional financing and thus will sell to a cash buyer
Thanks what I'm afraid of. I was hoping we would get it pretty cheap because if the condition and up until now it seemed like no-one knew or cared it even existed. Ill exhaust every effort though. We have been pouring money into our land, cant wait on that house forever ya know? But I still want to get it when it becomes available. The funds are going to be a big hurdle. Hopefully I can figure something out.

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Ken M.

Investor · Get yourself trained before doing something inadvisable. · Member since 2024 · 3k+ posts · 1k+ votes

2mo

Quote from @Valerie Scasny:

I'm hoping someone here has dealt with a difficult REO acquisition.

I'm trying to purchase the neighboring property before it's listed. A deed in lieu of foreclosure was recorded (3 years after actual foreclosure. I wonder if my poking around brought attention to it) and the loan servicer (Nationstar/Mr. Cooper) appears to own it.

The problem is I've already tried the obvious routes. I've spent months calling Nationstar, been transferred from department to department, sent certified letters, worked with a local Realtor, ordered a title search, tracked down the recorded deed in lieu, and still can't get connected with anyone who has authority to discuss selling the property. It feels like I'm talking to a brick wall. They keep sending me to auction sites where it is not listed, and I want to buy it as is before it's listed. It is next to a piece of raw land we purchased and I'd rather put our money into fixing it up than start from scratch.

The property has recently started being mowed, so someone is managing it now, but it's still not listed.

Has anyone broken through in a situation like this? I'm looking for strategies, departments, contacts, or experiences that actually got you to the person who controls REO disposition.

Depending on the type of loan, if it is Federally backed there is a legal sequence you have to follow and you are wasting time if you are not aware of it.

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Valerie Scasny
OP
Member since 2026 · 7 posts · 3 votes
2mo
Quote from @Ken M.:

Quote from @Valerie Scasny:

I'm hoping someone here has dealt with a difficult REO acquisition.
I'm trying to purchase the neighboring property before it's listed. A deed in lieu of foreclosure was recorded (3 years after actual foreclosure. I wonder if my poking around brought attention to it) and the loan servicer (Nationstar/Mr. Cooper) appears to own it.
The problem is I've already tried the obvious routes. I've spent months calling Nationstar, been transferred from department to department, sent certified letters, worked with a local Realtor, ordered a title search, tracked down the recorded deed in lieu, and still can't get connected with anyone who has authority to discuss selling the property. It feels like I'm talking to a brick wall. They keep sending me to auction sites where it is not listed, and I want to buy it as is before it's listed. It is next to a piece of raw land we purchased and I'd rather put our money into fixing it up than start from scratch.
The property has recently started being mowed, so someone is managing it now, but it's still not listed.
Has anyone broken through in a situation like this? I'm looking for strategies, departments, contacts, or experiences that actually got you to the person who controls REO disposition.

Depending on the type of loan, if it is Federally backed there is a legal sequence you have to follow and you are wasting time if you are not aware of it.

Ok thanks! Ill ask about that when I see him tomorrow. The previous owner is fully supportive and wants to help any way he can.
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Arman AhmedPro Member

Real Estate Agent · Columbus Cleveland Dayton, OH · Member since 2024 · 2k+ posts · 942 votes

2mo

Quote from @Valerie Scasny:

I'm hoping someone here has dealt with a difficult REO acquisition.

I'm trying to purchase the neighboring property before it's listed. A deed in lieu of foreclosure was recorded (3 years after actual foreclosure. I wonder if my poking around brought attention to it) and the loan servicer (Nationstar/Mr. Cooper) appears to own it.

The problem is I've already tried the obvious routes. I've spent months calling Nationstar, been transferred from department to department, sent certified letters, worked with a local Realtor, ordered a title search, tracked down the recorded deed in lieu, and still can't get connected with anyone who has authority to discuss selling the property. It feels like I'm talking to a brick wall. They keep sending me to auction sites where it is not listed, and I want to buy it as is before it's listed. It is next to a piece of raw land we purchased and I'd rather put our money into fixing it up than start from scratch.

The property has recently started being mowed, so someone is managing it now, but it's still not listed.

Has anyone broken through in a situation like this? I'm looking for strategies, departments, contacts, or experiences that actually got you to the person who controls REO disposition.

You've definitely done more digging than most people would. REO acquisitions can be frustrating because once the lender takes ownership, there are usually multiple layers between the property and the person who can actually approve a sale. Sometimes the best route is building a relationship with the asset management company handling the REO inventory rather than the loan servicer. Also, keep an eye on similar situations in other markets, Midwest areas like Ohio can sometimes have more opportunities for distressed and value-add properties where local relationships with agents, contractors, and investors make a big difference. Persistence and the right connections usually win these deals.

[email protected]614-418-6081

1 Reply

Valerie Scasny
OP
Member since 2026 · 7 posts · 3 votes
2mo
Quote from @Arman Ahmed:

Quote from @Valerie Scasny:

I'm hoping someone here has dealt with a difficult REO acquisition.
I'm trying to purchase the neighboring property before it's listed. A deed in lieu of foreclosure was recorded (3 years after actual foreclosure. I wonder if my poking around brought attention to it) and the loan servicer (Nationstar/Mr. Cooper) appears to own it.
The problem is I've already tried the obvious routes. I've spent months calling Nationstar, been transferred from department to department, sent certified letters, worked with a local Realtor, ordered a title search, tracked down the recorded deed in lieu, and still can't get connected with anyone who has authority to discuss selling the property. It feels like I'm talking to a brick wall. They keep sending me to auction sites where it is not listed, and I want to buy it as is before it's listed. It is next to a piece of raw land we purchased and I'd rather put our money into fixing it up than start from scratch.
The property has recently started being mowed, so someone is managing it now, but it's still not listed.
Has anyone broken through in a situation like this? I'm looking for strategies, departments, contacts, or experiences that actually got you to the person who controls REO disposition.

You've definitely done more digging than most people would. REO acquisitions can be frustrating because once the lender takes ownership, there are usually multiple layers between the property and the person who can actually approve a sale. Sometimes the best route is building a relationship with the asset management company handling the REO inventory rather than the loan servicer. Also, keep an eye on similar situations in other markets, Midwest areas like Ohio can sometimes have more opportunities for distressed and value-add properties where local relationships with agents, contractors, and investors make a big difference. Persistence and the right connections usually win these deals.
I'm only working so hard at it because it's a dream property for me. We bout 11 acres of forest next to it and are building from scratch. Like just the 2 of us. This place has utilities, a house, a barn for horses and acreage that with some work could be pastureland again. The house needs a lot of work being abandoned for 3 years but we would need to work hard to build on our land anyway. The realtor that sold us our property mentioned that with us being adjacent and nobody seeming to care about it we may get a good deal. And it has just stayed with me all this time.
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Jimmy LieuBusiness Member

Real Estate Agent · Columbus, OH · Member since 2019 · 3k+ posts · 2k+ votes

2mo

Quote from @Valerie Scasny:

I'm hoping someone here has dealt with a difficult REO acquisition.

I'm trying to purchase the neighboring property before it's listed. A deed in lieu of foreclosure was recorded (3 years after actual foreclosure. I wonder if my poking around brought attention to it) and the loan servicer (Nationstar/Mr. Cooper) appears to own it.

The problem is I've already tried the obvious routes. I've spent months calling Nationstar, been transferred from department to department, sent certified letters, worked with a local Realtor, ordered a title search, tracked down the recorded deed in lieu, and still can't get connected with anyone who has authority to discuss selling the property. It feels like I'm talking to a brick wall. They keep sending me to auction sites where it is not listed, and I want to buy it as is before it's listed. It is next to a piece of raw land we purchased and I'd rather put our money into fixing it up than start from scratch.

The property has recently started being mowed, so someone is managing it now, but it's still not listed.

Has anyone broken through in a situation like this? I'm looking for strategies, departments, contacts, or experiences that actually got you to the person who controls REO disposition.

Welcome to BP! It sounds like you've already exhausted most of the normal channels. At this point I'd stop trying to get through customer service and focus on whoever is actually handling their REO inventory. One thing I've seen work is reaching out to the asset preservation company or field service vendor that's maintaining the property. If it's being mowed regularly, someone has a work order on it, and those vendors sometimes know which asset manager has the file or can at least point you in the right direction. I'd also keep an eye on the county records for any new assignments or transfers and monitor REO listing platforms daily because once an agent is assigned, you may finally have a direct contact. Another option is having your Realtor reach out to REO listing agents who frequently represent that lender in your area. They may not have this property yet, but they often know who the asset managers are and can sometimes make an introduction. Unfortunately, large servicers can move incredibly slowly, so persistence is usually what wins these situations. Happy to connect and answer any questions you have!

[email protected]614-300-7535

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Valerie Scasny
OP
Member since 2026 · 7 posts · 3 votes
2mo
Quote from @Jimmy Lieu:

Quote from @Valerie Scasny:

I'm hoping someone here has dealt with a difficult REO acquisition.
I'm trying to purchase the neighboring property before it's listed. A deed in lieu of foreclosure was recorded (3 years after actual foreclosure. I wonder if my poking around brought attention to it) and the loan servicer (Nationstar/Mr. Cooper) appears to own it.
The problem is I've already tried the obvious routes. I've spent months calling Nationstar, been transferred from department to department, sent certified letters, worked with a local Realtor, ordered a title search, tracked down the recorded deed in lieu, and still can't get connected with anyone who has authority to discuss selling the property. It feels like I'm talking to a brick wall. They keep sending me to auction sites where it is not listed, and I want to buy it as is before it's listed. It is next to a piece of raw land we purchased and I'd rather put our money into fixing it up than start from scratch.
The property has recently started being mowed, so someone is managing it now, but it's still not listed.
Has anyone broken through in a situation like this? I'm looking for strategies, departments, contacts, or experiences that actually got you to the person who controls REO disposition.
Welcome to BP! It sounds like you've already exhausted most of the normal channels. At this point I'd stop trying to get through customer service and focus on whoever is actually handling their REO inventory. One thing I've seen work is reaching out to the asset preservation company or field service vendor that's maintaining the property. If it's being mowed regularly, someone has a work order on it, and those vendors sometimes know which asset manager has the file or can at least point you in the right direction. I'd also keep an eye on the county records for any new assignments or transfers and monitor REO listing platforms daily because once an agent is assigned, you may finally have a direct contact. Another option is having your Realtor reach out to REO listing agents who frequently represent that lender in your area. They may not have this property yet, but they often know who the asset managers are and can sometimes make an introduction. Unfortunately, large servicers can move incredibly slowly, so persistence is usually what wins these situations. Happy to connect and answer any questions you have!
Thank you Jimmy! I will see if I can find a realtor that knows of any. It feels like the one I have been working with has given up. He's not responsive and I always feel like Im bugging him. But I only text like once a week when I find something I think might be important. Im not blowing his phone up or anything.
Just for context, the property was lost by our neighbor back in 2023. We bought our land and I started digging at the end of 24/start of 25. It had been in his name all this time and sat vacant and abandoned up until June of this year when the deed in lieu was finally recorded. And then this week we are seeing the actual activity out there, lawn mowing and neighbor said someone else was there who went inside the house.
Can you tell me the best way to contact REO listing agents and asset managers? Is that something I can just Google or do I need to call a few people to get to them?
Also, I dont know if it's worth noting, but the attorney that prepared the deed in lieu for the recent recording emailed me back and said he would get in touch this coming week when he returns to the office. Im not sure how much more info he can give me than what I see on the public records but... Anything you can think of that I should ask him? My realtor has been trying to contact our neighbors bankruptcy attorney who handled the case years ago but he refuses to return any calls. Even after our neighbor asked him to.
I messaged my realtor about the recording and the recent grass mowing/activity but have not heard anything back.
Im just afraid they will auction it or it will get "officially" listed and I won't be able to get it.
Again thanks for the reply. This feels hopeful in what sometimes seems like a hopeless situation.
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Can I buy a run down property after a deed in Lieu but but before listing? efore

Can I buy a run down property after a deed in Lieu but but before listing? efore

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