How do I contact the lender to buy a bank-owned property (REO)?

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How do I contact the lender to buy a bank-owned property (REO)?

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Sometimes a property does not sell at the auction. It then reverts to the lender. Lenders are generally not happy to receive property out of foreclosure since they are in the lending business and not in the real estate business. REO means “Real Estate Owned” by the lender. It’s another way to say the property has already gone through the foreclosure process and has now been repossessed by the foreclosing lender. If the property is Bank Owned (REO), your first step is to contact the bank, called the lender on Idaho Data Providers Property Details page. The lender now owns the property. You should ask for the lender’s REO department or bank-owned property department to proceed with possibly buying the property. Idaho Data Providers usually has the name of the lender listed on the property, but if you have trouble finding a phone number or address for them through the Internet or other means, below are some suggestions for tracking down the lender. 1. First, if the lender has listed the p

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If the property is Bank Owned (REO), your first step is to contact the bank, called the lender on RealtyTrac’s Property Details page. The lender now owns the property. You should ask for the lender’s REO department or bank-owned property department to proceed with possibly buying the property.

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