Bank Portfolio Auctions
These are heavily advertised ballroom style auctions. Can be a great place to pick up properties. When an REO doesn’t sell on the resale market and the bank that owns the property needs to get it out of their portfolio they will send it to one of the big auction companies.
REDC
Williams and Williams
Hudson and Marshall
The Presidential Realty REO Division works directly with banks, mortgage lenders and asset management companies to assist in the sale of their bank-owned properties. The division also works with families in financial distress to help them sell their properties before foreclosure becomes the last resort as well as assists local investors in finding foreclosed properties available to rehab or rent.