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Updated over 6 years ago on . Most recent reply

User Stats

35
Posts
19
Votes
Eldrick S.
  • Rental Property Investor
  • Dallas, TX
19
Votes |
35
Posts

Wholesaling a REO property?

Eldrick S.
  • Rental Property Investor
  • Dallas, TX
Posted

Hi BP, I have a property that I interested in wholesaling. It is currently listed on the MLS for sale. When I lookup the property it is owned by Pennymac, LLC. I've tried to contact the listing agent (calls, voice mails and emails) and no response. What's my next step? Am I to contact the bank Pennymac to put an offer on for the property? Also are banks negotiable on REO properties?

Any help is appreciated. Thanks BP!

Most Popular Reply

User Stats

721
Posts
343
Votes
Roland Paicely
  • Raleigh, NC
343
Votes |
721
Posts
Roland Paicely
  • Raleigh, NC
Replied

@Eldrick S. It's very, very surprising that he hasn't contacted you.  Naturally, it's your call.  However, you can have someone other than the listing agent submit an offer for you.  It may not be what you're looking for.  But at least you can get an offer in.  Other than that, I'm wondering if the property is already under contract..................Good luck!  

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