He discovered a major national bank held the deed, meaning it was now REO (Real Estate Owned) . Phase 2: The Gatekeepers
Some banks skip agents entirely and list on sites like Auction.com or Hubzu . Marcus had to create an account and contact their online support to verify his "proof of funds." who do i contact to buy a foreclosed home
If it’s bank-owned, these corporate employees make the final call on his offer. He discovered a major national bank held the
He visited the local courthouse to find the Notice of Sale . He visited the local courthouse to find the Notice of Sale
Banks hire specialized Realtors to manage their foreclosed properties. Marcus looked for the name on the yard sign; that agent was the direct line to the bank’s asset manager.
For government-owned foreclosures (like HUD homes), Marcus found he must use a broker registered with the government to even place a bid. Phase 3: The Source of the Deed