Bank Owned Property First Dibs?

[Howard Montaque]

There is a home in my neighborhood thats bank owned recently. I have called multiple times but they always say they cant tell me anything until the for sale sign goes up. The grass is high and the house is still full of furniture and personal items. The owner is in hospice and the house has been foreclosed or pre-foreclosure. How do I get this house before anyone else does?

[Davido Davido]

I'd get a title report.  If the bank owns it, then they are in control of whether and when they sell it.  If the mortgage has not been foreclosed, you might be able to buy it.  If there is a second mortgage or lien, you might be able to buy it (at a discount) and foreclose the second.   You'd still have to pay off the first, but you'd be able to bid the full amount of the second, making it more likely that you'd end up with the property.