Making An Offer To A Bank On An REO

[Cedric Braggs]

Ive recently located a property while driving for dollars that appeared to be and is vacant. After doing some research the latest information I found out about the property is that it was in pre foreclosure in November of 2015. I attained the remaining mortgage value on the house as well as the bank trustee that will handle the account i assume. After some "borderline" trespassing to get a more thorough inspection of the property I gathered that the home would need only minor cosmetic repairs, and the kitchen needs to be updated (the home was built in 2005). There is no date entailing if the property will go to auction, so my question the BP community is, Should i make an offer directly to the trustee for the remaining mortgage, is there any particular formula in which these banks (chase) operates???  

[Wayne Brooks]

The bank/trustee can Not sell you the property...they don't own it.  Anything prior to buying at the auction has to be done thru the Owner.  Also, after the auction, if the bank gets it back, they won't deal with you individually, you'll have to wait for it to hit the market.