# Has anyone bought a property from the bank that was not listed?



## alwaysready (Jun 8, 2014)

There is a property that I'm interested in. The problem is that the original owner passed and there was still a mortgage. His heirs who live out of state tried to sale it fast. I offered to buy it however they would not wait until I was able to sale my current home. To make a long story short they returned it to the bank. I have been in contact with the agent that had listed the property for them. He has agreed to represent me in my attempt to make this purchase. They initiated the return to the bank the first week of January the process was supposed to take two weeks. To date their transaction is not complete. This agent has been very patient with them even though they have been hostile with him. My question is how would I go about contacting the bank to let them know that there is an interested person willing to pay the full price in cash. Is there anyone that can point me in the right direction? Thank you in advance. The property is located in Arkansas if that's any help.


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## po boy (Jul 12, 2010)

alwaysready said:


> There is a property that I'm interested in. The problem is that the original owner passed and there was still a mortgage. His heirs who live out of state tried to sale it fast. I offered to buy it however they would not wait until I was able to sale my current home. To make a long story short they *returned it to the bank*. I have been in contact with the agent *that had listed the property for them.* He has agreed to represent me in my attempt to make this purchase. They initiated the return to the bank the first week of January the process was supposed to take two weeks. To date their transaction is not complete. This agent has been very patient with them even though they have been hostile with him. My question is how would I go about contacting the bank to let them know that there is an interested person willing to pay the full price in cash. Is there anyone that can point me in the right direction? Thank you in advance. The property is located in Arkansas if that's any help.


Returned it to the bank? How?
*that had listed the property for them. Them? The bank or the heirs?*
Be more specific.


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## alwaysready (Jun 8, 2014)

po boy said:


> Returned it to the bank? How?
> *that had listed the property for them. Them? The bank or the heirs?*
> Be more specific.


I believe the heirs returned the property to the bank. They did not want to "waste" any of their money. 

The agent listed the house for the heirs.

If you need any more information I'll be happy to answer. Thank you


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## Darren (May 10, 2002)

Go to the Court House and look up the lien. It may have been a trustee for the bank instead of the bank itself that filed the lien for the mortgage. Whether it's a trustee or the bank, call them direct.


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## alwaysready (Jun 8, 2014)

Darren said:


> Go to the Court House and look up the lien. It may have been a trustee for the bank instead of the bank itself that filed the lien for the mortgage. Whether it's a trustee or the bank, call them direct.


Thank you! I'll call first thing in the morning.


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## TraderBob (Oct 21, 2010)

I bought a foreclosed property from the bank that hadn't been listed. I stop in and ask regularly about property in the area.


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## Maura (Jun 6, 2004)

If it is under Fannie Mae, they may not have released the house for sale. They are withholding properties and selling them a bit at a time. If this is the case, forget about the house.


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## Fishindude (May 19, 2015)

Shouldn't bee too tough if it's a local bank. Just call or stop in and see if you can figure out who handles that sort of thing.

If its some big mega bank, or credit union from out of the area, you may have extreme difficulty ever talking to a person that knows anything. I tried to buy a place next door under these conditions and never could get anywhere.


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## Darren (May 10, 2002)

Unless you check the court house records for who filed the lien you're in the dark.


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## Vahomesteaders (Jun 4, 2014)

Our last 2 houses were bank forclosures. Never offer full price. Our first one they wanted 158k. We got it for 30k. Our second and current farm was 285k. We got it 103k. My wife was a banker 15 years. They have to get these things moved fast. It doesn't hurt them to take big losses as its written off anyway . They need to get out of the red every quarter so they want to dump as many as they can. Make a crazy low offer and go from there. Now if Fannie Mae or Freddy are involved forget it. They sit on them forever.


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