Question:

How do I buy a house that was not sold at the auction and it became a bank property?

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  1. Make an offer to the bank to purchase the property. They may use a firm for representation of the property.


  2. It may well of had a reserve on it that wasn't met and if you could find that out from the auctioneers you could probably make the bank an offer.

  3. This is where a REALTOR® will help you from the beginning of the buying process to the end.  Find one, please, they will be paid a commission by the bank so you don't have to pay them.  

  4. They’ll list it with an agent, just like any other homeowner.

    It’s usually a hard battle to buy a house from a bank. I’d get your own buyer’s agent first so you have some professional assistance, and have them submit an offer to the listing agent. The listing agent’s commission will be split with your buyer’s agent so you shouldn’t have to pay them anything.

    Work without any representation, and the money that would have paid your agent ends up with the listing agent so it’s of no advantage to you not to have your own agent.  

  5. The bank will list it with Realtor then you find a buyer agent to help you.

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