Already foreclosed neighbor (deceased). how do I buy?

[Matt Brechting]

I have a rental property and was mowing the lawn today. A guy from next door started talking to me. He is working for the bank to change locks, mow lawn, etc. the bank foreclosed after the owner died. I got the full tour. The house is potentially incredible, but roof leaking and black mold and the place is trashed. How do I find the bank that owns it? Who would I talk to to buy it? Can anyone help?

[Jon Holdman]

Public records will show a deed where it was transferred as a result the foreclosure auction. Banks generally list REO properties like this on the MLS and sell them as-is. That can take months. If its a small, local bank, you may be able to make an offer directly to them. If its one of the big banks, probably not. You'll just have to wait for it to show up on the MLS.

Ask the guy you were talking to if there is a listing agent yet.  Or for his contact at the bank.