How to buy REO from the bank

[Dee Xixi]

I was on Realty Trac and under the REO section i saw some houses not yet listed with an re agent but with a transfer value price on them. I wonder if i can contact the bank if they will sell it to me for that price and the process will unfold. I am not sure if it is doable and which department from the bank i would have to contact?
Thanks

[Will Barnard]

Not usually Dee. Unless you are in contact with teh attorney who handled the foreclosure for the bank, the bank reps will tell you that you will have to wait for their agent wh=o will market the property.

The value you are seeing on the Realtytrac sight is not the sales price the bank will sell at, it is what was owed by the previous owners. A price to sell the property is not usually set until the bank has the BPO in hand and approves it or adjusts it accordingly.
Hope that answers your questions.
On a side note, reaktytrac is a great site to use to find REO agents and other properties that will be coming down the pipeline.