Deutsche Bank REO Deals

[Marvin Worrell]

Dealing with any property that has Deutsche Bank listed as a trustee is more than likely a nightmare. There are plenty of outdated posts on how to deal with properties that has Deutsche bank listed as a trustee. My personal experience has given me a few takeaways that past agents/investors may have also reiterated. Im posting this in case someone else may have some concerns or questions about Deutsche banks processes. 1. Deutsche Bank had only ONE department to deal with inquiries from any property they are a trustee of. - The only way they will respond to inquiries (since they don't do so over the phone) is to mail or fax them a copy of deed (acquired online depending on your state) and a letter stating your intentions for the property. The problem with faxing is that when you do attempt to do this, you'll more than likely get a busy fax signal. I tried to fax over all the info for a deal (in the New york area where I'm an agent) my client took a high interest in for a week and still didn't get a single confirmation page. My other option was to mail in the documents asked for. Done. I waited for two weeks for a reply or response back at my office but got nothing. When I called, I was redirected to another line which I've never personally spoken to someone but have left several voicemails for someone who's name I can not make out by listening. Constantly looking for clues on how to get into this property, i ended up finding a listing on the new york MLS. Great, right? So I thought. The name of the listing agent is Eric Lee of SOWAE corp. He has a number posted, and has an office in the city. As I called his number, i was almost immediately forwarded to a voicemail where he stated explicitly that he does not 'check' and if you left a voicemail you will 'more than likely not be responded to'. He then instructs anyone interested in any of his listings to email him. I followed through and sent over an email. I receive an automated email message saying that if I saw the property listed then it was still available and the only way that I would get a response back from Mr. lee would be io send in an offer and they would contact me if the offer was accepted and if it was rejected I wouldn't. It was listed at an unbelievable price to me so i was already cautious. I wasn't going to play this back and forth game with Mr.Lee on emails or unlistened to voicemails so I decided to go to his office which ended up being non existent. This puts me back at square one with this property. Woe is me. I started this thread to see if anyone else has any experiences, good or bad to share about their dealings with Deutsche bank. Thanks in advance for the responses!