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Updated almost 11 years ago on . Most recent reply

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13
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Keith Lewis
  • Boynton Beach, FL
1
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13
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How can I get THESE PROPERTIES before the BANK?

Keith Lewis
  • Boynton Beach, FL
Posted

I live in South Florida and have a few local neighborhoods that are predominantly retirement aged neighborhoods however sound investment areas. I have done 6 properties and love them. I am helping to increase the comps - but the market is charging up in here anyway.

Here is the problem... The banks always end up with them and lately Fannie is buying them at auction too. We all know what happens then, they overprice JUNK.

HOW CAN I GET THEM BEFORE THE BANK? I am a licensed real estate agent and licensed building contractor and the banks wont talk.

Typically they are probate scenarios but no next of kin exists or the family is just not willing to talk to me. Then, 4-6 weeks later it forecloses. I cant get thru to any of the banks! How can I get my hands on these properties? Help!

Most Popular Reply

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23,418
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Wayne Brooks#1 Foreclosures Contributor
  • Real Estate Professional
  • West Palm Beach, FL
13,509
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23,418
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Wayne Brooks#1 Foreclosures Contributor
  • Real Estate Professional
  • West Palm Beach, FL
Replied

If the owners won't deal with you, there's nothing you can do. If they will talk to you, and there's equity, then you're good. If they're upside down, and they'll talk, then it's a short sale. Unless the seller cooperates, talking to the bank is useless.

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