Is it possible to buy an REO before it shows on MLS?

Submitted by usalifeworks from CA - 12/02/2008 - 9:22am

As has been noted, there are many REOs that are not listed on the MLS. Is it possible to approach the lender or trustee directly and offer to purchase? If so, how? If not, why not? Thanks for any input.

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Comments

Submitted by Sean - 12/03/2008 - 11:32pm

Yes possible, but typically difficult as many lenders have policies to only sell through realtors or in bulk. Usually the best way to get a hold of them is through the trustee - just be sure to ask really nice. The other resource we use for contacting lenders is the Lane Guide. Note that the Lane Guide offers ForeclosureRadar.com customers a discounted rate. Just click on the Lane Guide links next to the lender names after you login.

Submitted by ft - 10/02/2009 - 2:11am

If you can not purchase the home until it hits the MLS, then what is the point of using this sites service

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