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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Re: Property is REO, but not for sale(?) Posted by Jk (the other Jk) on March 14, 2004 at 9:10 AM In Reply to: Property is REO, but not for sale(?) posted by Mike on March 12, 2004 at 12:28 AM : I have recently located property which is an REO since 9/03 and owned by Wells Fargo (per tax rolls) and recorded in 11/03. In several attempts to get more info (phone calls, visit WF branch, email thru website, etc), I am always in the end directed to their subidary Premiere Asset Service which has a website (no phone or contact), but the property is not on the website nor is it listed in the MLS. : My previous experience in buying a foreclosure property was the bank had for 6+ month before it was out on the market (I found it by accident while looking on the MLS for something else). : Questions: Is it typical for banks to take so long to get properties on the market? Is there any thing else to do except wait? Everyone I have dealt with has been polite, but I get the impression that WF/PAS REALLY don't want to talk to you except thru the website/listing agent. : Any thoughts or experience with similar situations would be greatly appreciated. : Regards, : Mike It would be helpful it you would mention the area of the property. Most larger banks in hot real estate markets like California are going to take their time, rehab their REOs and sell for market value by advertising the property and using a listing agent. Follow Ups: Re: Property is REO, but not for sale(?) Mike 8:38 AM, 03/15/04 (0) Post a Followup: Name : E-Mail : Subject : Comments: : : I have recently located property which is an REO since 9/03 and owned by Wells Fargo (per tax rolls) and recorded in 11/03. In several attempts to get more info (phone calls, visit WF branch, email thru website, etc), I am always in the end directed to their subidary Premiere Asset Service which has a website (no phone or contact), but the property is not on the website nor is it listed in the MLS. : : My previous experience in buying a foreclosure property was the bank had for 6+ month before it was out on the market (I found it by accident while looking on the MLS for something else). : : Questions: Is it typical for banks to take so long to get properties on the market? Is there any thing else to do except wait? Everyone I have dealt with has been polite, but I get the impression that WF/PAS REALLY don't want to talk to you except thru the website/listing agent. : : Any thoughts or experience with similar situations would be greatly appreciated. : : Regards, : : Mike : It would be helpful it you would mention the area of the property. Most larger banks in hot real estate markets like California are going to take their time, rehab their REOs and sell for market value by advertising the property and using a listing agent. Optional Link URL: Link Title: Optional Image URL: [ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] WWWAdmin 2.0a © 1997 Matt Wright and DBasics Software Company, All Rights Reserved

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