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Home > Banks & Credit Unions > Open Question

Possible to deal directly with banks that own houses?

Is it possible for the buyer to deal directly (through an agent) with the bank rather than a third party loan? So, for example, the bank would sell me the house directly that it owns with monthly payments even if it is with profit on the property.

949 day(s) ago

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JeffSimons

If you are referring to REO's then NO. The banks don't want to hold onto properties and want it off the books ASAP. They're in the lending business and not the property management business. That means you'll need to get a loan from a lender, could be the same bank, to pay off the owner of the property, in this case the bank. Or come in with an all cash deal.

Posted 949 days ago

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peggys

Hope this helps.

http://www.worldbestloans.com/

Thanks.

Posted 949 days ago

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