Bank Owned but not listed for 9+months... Can you contact directly for offers?

[Justin Bernsten]

Hello Guys and Gals,

After viewing a home in an area that was not right I decided to dig a little deeper and found a property that looks great that I would be interested in viewing and potentially making an offer. According to records on the various RE sites the Bank took ownership in 6/14 for about $85K... it has not been listed since that time. I believe it was taken over by JP Morgan/Chase but not 100%. 

Is it possible to track down someone directly and get information on why this property is not being listed and potentially make an offer?

What I have learned:

1. Chase is very difficult to contact a REO department directly... no # found thus far.

2. The Asset management company that seems to list most of their properties in Baltimore (Green River Capitol) does not have it in their system. (should I check with their other listed AM companies as well?) 

3. I left a voicemail for the Lawyer involved in the foreclosure which was listed as the seller to JP Morgan Chase.

4. Spoke to 2 Realtors listed for other Chase properties in the area and got very little information. 

Is what I am trying to do possible to accomplish? Where should I look or dig next? If I did manage to contact someone how should I proceed? 

Thanks! 

[Mark Ferguson]

To answer your questions. No

Chase and 95% of banks will not sell before they are listed.  You are chasing your tail and will never get anywhere. It makes no difference what Chase got it for. they will get an appraisal and multiple bpos before they value it.