How do I get to the bank after the auction?

[Tahra Wright]

Was working on a short sale of a property that was up to auction.  WF was servicer and FNMA is the lender.  The BPO and appraisal were ordered and submitted to FNMA, but for whatever reason weren't sent to WF in time to continue the short sale review and stop the auction and WF wouldn't postpone it.  It went to auction yesterday and the homeowner called me today and told me that the bank bought it back at auction.  So, since the bank already has the BPO and appraisal, they already had an offer from me  it would be easier to work out a deal with them before they look to list it.  Plus they wouldn't be paying any realtor or attorney fees.    I have the contact for the law firm who handled the foreclosure...I just might call them again.

Any suggestions by anyone who has done this before successfully or suggestions on who I should try to talk to?

[Hattie Dizmond]

Disclaimer:  This is a snarky and completely unhelpful, but true, response.

Good luck trying to work out anything with WF that doesn't completely follow their scripts & procedures.  They are, without a doubt, the most rigid of the big banks.

Now...I'll try to be a little helpful. Was the property taken back by FNMA or WF? If it was FNMA, try contacting their REO department directly. Ask to speak with a portfolio manager. Those guys are evaluated on minimizing losses to the REO portfolio. The argument that they can save realtor fees and any rehab costs may appeal to them.