“My husband and I found a foreclosed home we want to buy, but it’s not on the market yet. How do we make our offer if it’s not listed?”
Answer:
You or your agent could contact the bank that foreclosed on it and with some persistence hopefully reach the right person to talk to. And that person will likely refer you to the agent who’s handling it.
You can then submit your offer to that agent.
However…
Most banks won’t respond to offers until they’ve priced the home and put it on the market. Based on my experience, I’d say you have about a 5% chance of getting the home before it hits the market.
And there’s always the risk your offer could be higher than what they’re planning to list it for. I’ve had this happen several times.
Good luck.
