I have many clients looking on-line for foreclosures. I also have a company I subscribed to get the listings of foreclosures. The frustrating part is contacting the bank to see if anyone has been assigned the foreclosure so I can show the property. They always state we need the account number and the SS number of the client. I tell them I am not the listing agent, nor do I want to know about the loan. I only want to show the property. Does anyone experience this? If so, how do you handle this situation. I cannot show the properties. Why have them on the list of foreclosures if you will not have a way we can show them.
It may take months to over a year before the big banks are "ready" to sell a property for many reasons. From what I have been told by my A/M with a big-4 bank is it's an accounting issue. Until a property has been listed, you usually do not want to talk to you.
Even as one of their listing agents, they would not discuss a property (even if I was working on the BPO and have already turned one in) until they were ready to list it. I had 2 cases on different properties where I had done the BPO, checked titles and other research, had an agent call me with a ready, willing and capable buyer, wanting to make an offer on those properties. The bank would not discuss it, period! They said the buyer will have to wait until they listed the property before they would consider taking an offer.
Well, the bank listed the both properties with a different brokerage and never told me they on the market. The orginial inquiring buyers lost out. The houses sold to different buyers for 25% less then these buyers were willing to offer.
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Even as one of their listing agents, they would not discuss a property (even if I was working on the BPO and have already turned one in) until they were ready to list it. I had 2 cases on different properties where I had done the BPO, checked titles and other research, had an agent call me with a ready, willing and capable buyer, wanting to make an offer on those properties. The bank would not discuss it, period! They said the buyer will have to wait until they listed the property before they would consider taking an offer.
Well, the bank listed the both properties with a different brokerage and never told me they on the market. The orginial inquiring buyers lost out. The houses sold to different buyers for 25% less then these buyers were willing to offer.