Some Suggestions for finding REO's
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Wednesday, April 23, 2003 @ 05:00 AM EDT
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Contributed by: Edward Nolan
You could ask a realtor to give you a listing of homes for sale ($30k and under) in a particular city. The banks, when they foreclose, if they win at the sheriff sale, list the homes for sale through realtors from within their REO offices.
You could get a listing of future sheriff sales from the county and then in the auditors/clerks office look up each address to see where the tax bills are being sent.`Most of the time the bill goes to the banks since many people opt to pay a little at a time towards their taxs when they make their normal monthy paymnet. It will also give you
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the bank address and a code for the banks phone number that the clerk could look up in another book for you so you can call the bank and put in an offer. But, since you already have a listing of future sheriff sales, you could always drive by the properties to see if anyone still lives in them and then talk to them directly. If the home is vacant knock on neighbors doors and tell them you want to buy the home and fix it up for the neighborhood. They'll be more than willing to tell you how to get in touch with the people who use to live their or point you in a direction.
There is an online financial company I use quite a bit. They list all their REO's for every state. The company is Ocwen Financial Corp. Any one can search for residential and commercial for free. Simply go to http://ocwen.com/
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