How to find REO listings on the MLS?

[Matt Nelson]

Hi

I have access to the MLS website, and I am wanting to know how to find REO properties that may be listed. What field do I need to specify this in?

Can someone help me out?

Thanks!

[Ryan Webber]

Epic, I believe you might be a little mixed up about subject to's. A "subject to" is in reference to taking the property subject to the existing financing, not necessarily subject to the lenders approval. Subject to's are not approved by the lender. You assume the seller financing without discussing the subject with the lender. Lenders don't like assumptions and are even protected against them with the Due On Sale Clause.

Now short sales, as you described, are in junction with the lender.

Foreclosureboy is referring to the managers that take care of the foreclosed properties after they are foreclosed but before they get to the market with realtors.