Making Offers on Foreclosures

[Justin Pencook]

There is an REO property in the town next to me that I would like to investigate further and ultimately make an offer on. I have to admit, the foreclosure process is a bit intimidating and I am going to put forth my best effort in navigating through it.

This particular property is on an auction website, and it appears that the only way I can get inside the property is with the representation of a licensed agent. Is this true? If so, what is the best way to connect with an REO Agent quickly in my area? I am looking for my first investment here, and am not willing to make any purchases sight unseen.

The property has been vacant for roughly a year, which leads me to believe there are some significant rehab costs and/or liens on the property (is this fair to say?) . I say this because in that particular town, there are rehabs on nearly every block which tells me this market is very competitive at the moment. 

Rather than bid at the auction, I may be able to find the bank who owns the property and contact them directly, without the representation of an agent. Would anyone advise against this? I am favorable to this strategy, but am a bit uneasy about going at this alone without any form of representation. 

Any and all advice is welcome!!

Justin