Why can't I find an REO? | ForeclosureTruth

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Why can't I find an REO?

Submitted by MaryM on Fri, 04/04/2008 - 2:44pm.

I have seen a few addresses that are REO from a Realtor, but ForeclosureRadar doesn't have any record of it. Can you please explain why an REO would not show up in your system?

Comments:

Submitted by admin on Fri, 04/04/2008 - 3:08pm.

Please review Keeping the Please review Keeping the Data Fresh for complete details on what we track and for how long. Specifically, we only display REO's for 120 days after the date of the auction where the bank takes back the property. Many REO's are taking far longer than this to sell. We've chosen not to list REO’s after 120 days, because we no longer see these as an "opportunity" for our Realtor and Investor customers, as they are typically listed at that point and can be easily found in the MLS. We may change this is in a future release to give customers the ability to see older REO's.

Submitted by gotforeclosure on Sat, 05/03/2008 - 1:11pm.

Admin: could you expand

Admin:

could you expand on your comment that "we no longer see these as an "opportunity" for our Realtor and Investor customers, as they are typically listed at that point and can be easily found in the MLS".

I thought that contacting the bank before the proeprty shows up in the MLS doesn't make any sense?

Cheers,

Thomas Bartke

Foreclosure and Wholesale Investing Strategies

http://GotForeclosure.com

http://CaWholesaleDeals.com

Submitted by Lance on Mon, 04/07/2008 - 10:42am.

In case the link in the In case the link in the previous post doesn't work, try clicking this one Keeping the Data Fresh.

Submitted by Sean on Sat, 05/03/2008 - 4:18pm.

It makes a ton of sense to

It makes a ton of sense to contact the bank before it is listed if you are an REO broker and want the listing. Yes, a lot of times they go to the broker that did the BPO, but we are hearing that there are so many now that no longer always applies. See also my reply to your question here.