How Do I Get Inside?

kimmyjack profile photo

How do you get inside a foreclosed property?

Comments(10)

  • GREATLAKESLAND16th February, 2004

    Well that's kind of tricky. It's illegel to go inside of someone's personal property without their ok. If the bank owes it you can call the bank to get their permission to go inside. especially if the property is open and unsecured. Its a danger to the public. If the bank doesn't own the property because it has not went through the complete foreclosure, try to find the owners. Good Luck

  • edmeyer16th February, 2004

    I am not sure of your context. You said foreclosed property so I am assuming that the sale has taken place. If someone was successful at the sale, they own it and probably want to do something with it. If the bank owns the property then you need to contact the bank's REO department. Often, banks list with real estate agents to resell the property and you might be referred to the agent.

  • JeffAdams16th February, 2004

    It all depends. If it is listed in the MLS,
    then a local agent can use his or hers
    supra key or have access by means of
    a lockbox. If it is a HUD or VA house,
    if the agent is certified to work with the
    above then they get issued keys.

    I work thru a broker who has issued me
    keys and I have access to her supra if needed. If anybody ever said anything,
    my broker would vouch for me and say
    I was her assistant.

    Back in the nineties when there were
    an abundance of foreclosures, I worked directly with the agents who represented
    the banks and they would give me keys or the combos to the lockboxes and I would go look at the houses on my own.
    I would then call them up and tell them what I would pay. Sometimes I would land a deal, sometimes not.

    What you will find is your agent will get
    tired of taking you out and looking at properties and writing low-ball offers.
    You need to either get your license so you have access or find a broker or realtor who will work with you.

    Best Riches,
    Jeff Adam

    _________________
    "The only place success comes before work
    is in the dictionary."[ Edited by JeffreyAdam on Date 02/16/2004 ]

  • Jimbezy17th February, 2004

    One time I was looking at a property with a contractor so we just ripped the board off the door with a hammer and walked in. But the house didnt have a door because it was burnt off, so this might not work in your situation. Anyways, a lot of forclosed houses are occupied so you might try and ask if you can come in, its worth a shot at least. Otherwise I would think getting in any other way would be an illegal way, but all ways rember, its on illegal if some one sees you doing it.

  • tinman175517th February, 2004

    In my area all foreclosed properties have the same master lock. I have one from one of my first purchases, then my friend bought a property and they made a copy of my key. Try to see if you know anyone that would give you a copy. Just about everyone in the rei club has a copy. I would try there.


    Lori
    [addsig]

  • omega117th February, 2004

    Lori AKATin Man,

    Can you please explain to us how can all foreclosed properties in one scattered geographical aria have the same key for all doors? HUD is in the stage of extinction throughout the USA but in time when HUD had a lot of properties all over the place they couldn't keep the single key in use EVER and the authorized brokers and their agents use to carry all bunch of keys just hoping that one would open the pad lock. Add to this picture dozens of different banks and other private and institutional lenders and one can seriously ask him/her self when do you plan to stop hustling this board with avalanche of misinformation?

    Hope to see you stop!

  • tinman175517th February, 2004

    Omega1

    At least you asked for clarification and then called my a liar this time.

    This is what happens in PGH,PA when a house is foreclosed on. After foreclosure happens.

    All houses are winterized through one company, They use the same type of lock on every house, one master key fits all of the locks. Certain people where given these keys, appraisers, utility personnell, realtors, and the winterization crew members, so the keys got copied. That is how I got one.

    I hpoe this makes sence to you all now

    Tootles

    Lori



    [addsig]

  • tsjhope17th February, 2004

    Ive heard of all the same lockboc combo like in my area but not the same key.

  • tinman175517th February, 2004

    I heard on Saturday at the HUD auction they were thinking of changing it to a lockbox. But not in the near future

    Lori

  • Mustangmom17th February, 2004

    Not to horn in, but here in Northern Virginia, at one time all VA repos had a master key that fit all the door locks. These keys were given to Realtors and other personnel who needed access. I still have my key from when I was a Realtor, but the VA has since started using a different system so the key no longer works. My point is that, depending on what part of the country you're in, there may well be a master key of some kind, but I would think only with VA or HUD repos. Bank-owned properties might be tougher to have master keys for.

Add Comment

Login To Comment