Making an offer on a foreclosure (South Carolina)

[Jason Griffin]

So, I found a SFH listed on Auction.com, it's not listed on the MLS...I drove by the house and it appears to be vacant. There was a judgement foreclosure notice (Lis Pendens) taped to the door that showed the owners name and the name of the bank. Can I make an offer directly to the bank and can I make an offer contingent upon my inspection of the home? I'd just like to understand the process...thanks BP Family

[Russ Scheider]

@Jason Griffin

If there is a listing agent on the property, I would call him/her and ask if you can make a direct offer through the listing.   The worst he/she can say is "no".  Then you must go through the auction website process, which is a shot in the dark in my experience.

IMHO, it is alway beneficial to speak with a human being and let him/her know that I am a real person who buys local real estate on a regular basis. If we can't make a deal on this property, perhaps he or she will call me when the next good REO comes along. Good Luck. Persistence pays!

@Wayne Brooks  I agree.  I attended our local live auction at the courthouse this week and sat right next to the attorney who represents the banks.  I was able to look over his shoulder and see his notes "Minimum bid" and "Maximum Bid".  When a property hit the maximum bid, he let them go.  It is a fair process in my opinion, whether online or live.