Upcoming Foreclosures

Help with buying a foreclosure!?

I found a REO house that i want to buy in wilmington, nc, but when i contacted the bank they said that the home was foreclosed through Maryland and not North Carolina so i have to wait on the MD courts. What can i do as a next step to try and buy the house?

Public Comments

1. have an agent place the offer as they know where to send it
2. Contact a Realtor. It's up to the lender (regardless of location) to list the property with a real estate agent whenever it decides it wants to sell the property. There are plenty of REO properties that aren't on the market yet. And if they're not, then there isn't much you can do now to buy it. However, a Realtor can set up a "watch" on properties, so that as soon as one matching whatever criteria you need (and to target a specific property, the address or street name could be entered) gets listed, you're automatically notified. Also, there tend to be a limited number of agents who handle REO properties (because the lenders prefer working with a limited number of agents). You should have your own agent, but yours will know (or can find out) which agents handle properties for that particular lender, and may be able to find out from those agents when the property you're interested in might become available. So: Find a Realtor in Wilmington, explain what you're after, and take it from there. Hope that helps.