How do you find out about REO’s when the lenders keep quiet about them as far as the general public is concerned, they can be open about them to buyers. After all, they do want to sell them in order to get the money invest back at work as a mortgage. Most lenders list their REOs with a local real estate agent who then puts them on the market at full price. You can buy REOs in your area simply by checking with local agents. On the other had, you want to buy these REOs at discount, not at full market price. Full market price does you little good. One way is to convince the lender to let you bid on its REOs before it lists them . Basically you need to let a lender know that you are a sophisticated investor. You need to let the lender know that you understand what a REO is and that you’d like to bid onone in the raw, so to speak. Once the lender understands that you’re special and not part of the public interested only in deposits, the lender will open up.
How to find out about REO'S