Upcoming Foreclosures

Can I contact the bank for a bank owned property and make an offer?

Or do I have to go to the realty firm where the property is listed? I assume that if I want to view the property than I need to contact the realtor for viewing? Thanks for answering! If I have to go through the real estate broker to view/bid on the property, do I have to pay them commission?

Public Comments

1. You must deal with the real estate firm. The bank will not entertain an offer otherwise.
2. You need to tender any offer with the a licensed real estate agent, which does not need to be the same firm/person who has the property listed for sale. The reason that the bank has contracted with a real estate agency is that they do not want to deal directly with buyers. Part of the services for which the bank pays includes handling all communication with any buyer.
3. The bank has no way of dealing with you directly, no one there holds a real estate license. They will not even discuss the property with you. The bank pays the agents commission, not the buyer.