Norma Said:

I need a list of REO realtors and asset management compainies?

We Answered:

Any specific location? Any specific reason why?

Douglas Said:

How can I get REO listings from an asset management company or bank?

We Answered:

Basically-you would have to cold sell yourself to individual banks as most have realtors they deal with and from there the house goes to multiple listing, You would have to cut someones throat commission and service wise. This will be tough business as most banks are not motivated to move these properties because of the federal bailout and qualified buyers are aware of the state of the market and low-balling everything creating a flood of inventory and stalemates which depresses the value of everything..

Olga Said:

How long does it normally take a bank to respond to an offer on a foreclosure?

We Answered:

No there isn't anything you can do to speed up the process. But you have the right to withdraw your offer at this point. There is no reason it should take them more than a few days to process. They are setting you up to ask for more.

Vera Said:

How do you get a conncection with the REO Mortgage Banks for ASSET MANAGEMENT?

We Answered:

I might be wrong, but I think you should be looking toward the real estate brokerages instead of the banks. At least in the larger metro areas, I think the larger RE brokers have one department which work with the mortgage companies. The RE brokerage basically does all the work, such as deciding what repairs are necessary, what sub-contractors to use, what price to charge, and then list the property. They charge the mortgage company a management fee plus a commission when they sell. If you notice on the mortgage company websites in the REO section, they list a RE agent with every foreclosed house. If you want info on that home, you contact the broker, not someone at the mort. co.