Let's face it the bank wants the most money they can get back and the MLS does that for them. Some homes do not sale and then go off the MLS and that is how most REO list are created. Basically the homes that did not sale off the MLS are on a list that you can get cheap deals. Are they good deals? Do not know the answer to that, except to say no one wanted them on the MLS.
Anytime you have a great deal and you add it to the multiple listing service there are a lot of agents that are looking for them daily including me. We have many different clients around the world that ask us to watch for real estate that fits their needs. I meeting with a client tomorrow that wants to see some real estate and talk about their portfolio.
Estate sales can also be great deals and if you can get in with an attorney or paralegal that deals with those types of properties you may get a great deal. I personally purchased a home from an estate deal that was a great home and priced well. I also purchased a home from an estate that was by a golf course and no one wanted it. I sold it to an investor that is rehabbing it and will sell it this year.
Hud properties are also foreclosed homes and they have a 10 day wait for investors. Home owners have the first 10 days to purchase a Hud property after that investors can bid on them. If your wanting to buy a new home to live in then a HUD property might be your best option.
The key to getting foreclosed homes is knowing the paperwork that is needed to secure a home. The Govt has no emotion on a property they just want the paperwork done correctly. Lori is an expert at this paperwork and does a great job making sure that the paperwork is correct.
If your looking at purchasing a bank owned home, Hud home, or any home I'm Brett please call me 216-703-5740 EXP Realty Ohio and 602-363-6551 EXP Realty Arizona
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Thank you