Permission from bank?

[Curious The George]

I posted this on another web site and didn't get responses that were very useful. Can anyone address this question?

I spotted a house the other day in a nearby town. From the construction it is 1880-90's range.

Big yard all around. It is not in the best of condition and unoccupied. There is a realtor's sign in the yard. Research tells me a local bank forclosed on the property in 2007.

Has anyone ever contacted a bank for permission to hunt such property? Were you sucessful getting permission? If you were, any tips on the process? I don't want to get a flat out, "No!".

I could call the realtor but if he says no then I am dead in the water, unless I then go around him to the bank.

Any and all suggestions are welcome.

 

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[savant365]

Thats a pretty good question. If the bank owns it I would say you probably will get a "no" if you ask to go there to detect (liability reasons). It depends on how comfortable you would be with being kinda vague with the bank/finance company. You could just call and ask whoever is in charge of the property if it is okay for you to go look around the property. If they say you can go look around, get their name and go over and detect it while you are looking at it. If anyone asks you can always say that so and so gave you permission to be there and give them the persons name that you talked to. This is a little shady but if the house is unoccupied I doubt if anyone will hassle you for being there. You always run the chance of that nosey neighbor though. This may not be a good idea if you live in a small community where everybody knows everybody but a larger town you shouldn't have any issues. Like I said though this is kinda shady.
If a real estate agent shows up and asks what you are doing you can just tell them you wanted to look the place over and so and so from the bank said it was ok and you had your detector with you so you were just seeing what was there. They will probably just give you their card and try to get you to buy the place. It's like you have permission to be there you just didn't say what you were gonna be looking for. You don't have to lie to them and say you are interested in buying it, but technically you are just looking around the property like you said you were going to.

HH Charlie

 

[camperlee]

kind of sneaky charlie but it just might work.

 

[cwdigger]

DONT ask the reality company and this is why, I had found some property that looked very promising lots of old buildings and pecan trees everywhere, there was a sign that had a reality company name on it, so I figured if they were selling it they would know who owns it, right? So I called the lady that answered the phone was real reluctant to give any information on who owned the property, I guess she figured that I was trying to take her property from her, she finally ended up saying that she would have to call the landowner and ask if it would be OK for me to MD on it, at that time I almost knew answer was going to be a big fat NO, b/c there was no telling what she was going to tell the owner. Well about 30 later I got a returned phone call from them, she said that she tried to contact the owner and did not think he would be OK with it and they told me NO. I always like to ask the person that Owns the property in person, b/c 90% of the time that increases your odds. Good luck with asking maybe they will say yes, it wont hurt to ask all they can say is no

Cw

 

[savant365]

kind of sneaky charlie but it just might work.

I wouldn't do this if it wasn't empty and bank owned. I really doubt that anybody would go to a lot of trouble and call the bank but if they did you could always just say that you were there looking at it because so and so said you could. You happened to have your detector with you and didn't think anyone would mind. Apologize and leave. I would make sure to be very careful digging so no one could say you were tearing things up. Yeah, its sneaky/shady and if its a small town like mine I wouldn't do it but in a larger place or a different town then where you live... This may not be the best or most honest advice but Mac did say "any and all suggestions welcome"

 

[retiree]

There is a place I've been looking at. It has a realty sign on it but no structure. Just an empty lot. I haven't had the chance to go back and get their number yet.

 

[Philvis]

I work for a mortgage company and actually support our REO dept. I can tell you that 9 out of 10 times your answer will be no. The simple answer is liability. Every REO property for a bank is a liability not only for costs incurred, but for the possibility that something may happen on the property during it's long wait to be sold. The broker/agents would be the people to contact in regards to obtaining permission. No one at the bank would do so more than likely. The brokers are hired to essentially take care of the property and sell it for the bank.

As I said in a previous post, if the property is empty and has been for awhile, it may just be worth your while to do a little detecting one afternoon. Just try not to look shady and draw attention to yourself. If it is in the middle of a subdivision, I wouldn't bother...Nosey neighbors. One idea is if you can find the broker before the house really has sat long, you can work out an agreement possibly to get a contract to cut the grass or something like that with the condition you get to detect it.

Sorry, but due to liability purposes, typically your answer will be no.

 

[Tom_in_CA]

I'm with Philvis & Savant on this one: If I see a house-for-sale that has an "abandoned" look (as opposed to a house-for sale with a resident still living in it), I will often-times just go for it

Isn't it naturally expected that if a bank is trying to sell a property, they would very much-invite lookie-lous to check it out, right? I mean, would you need their permission to walk up to the house to take a closer look? Or step on the vacant lot, to check things out? (ie.: "kick the tires"). Yeah I know, it's grasping for straws to go from something as innocuous as that, to detecting, but no one's ever bothered me

 

[Curious The George]

Thank you all for the thoughts.

The house is in a small town near by that I don't live in. It is for certain owned by a bank with an office in that town and they have owned it since they took it from the previous owner in 2007. It has a local realtor sign on it and the agents name is the same guy who owns the realty company.

While not run down it is very obvious that it is not getting any maintenance except for the lawn. I have attached a Google Earth photo of it to this message. The house is on a main traveled east-west road.

I very much agree that if I go to the bank I'll get bounced around like a ping pong ball till someone says "NO!" just to get rid of me. Or they will site some unknown person in the bank headquarters in some other town and say that they can't bother them with such a question so, "No."

I also feel that the realtor will not grant permission in that he doesn't own the property and can't. He may even have sympathy for me and wish he could but won't want to stick his neck out anyway. Of course it is always possible that he would say he would keep quite and not go over that way on a certain day. But it is unlikely he would do that either.

Perhaps a Sunday morning visit is in order.

 

[Philvis]

That definitely looks like a promising site. An early morning run isn't a bad idea.

 

[Gary in Pennsylvania]

HIT IT!

 

[mick56]

A friend of mine is a realtor, and I asked her once about detecting old vacant houses. She said she can't give permission, only the owner could do that. But "looking around" it should be ok.

 

[Argentium]

That place really has that detect me now and apologise if necessary . If it is unoccupied , I say go hit it either real

early in the morning , or early eavening on a saturday or sunday . Argentium.

 

[Marchas45]

Hi! Mac In Oak Ridge, I'm a Real Estate Broker, my advise is call the real estate agency and set up an appointment to view the property, when you are finished viewing the property ask the realtor your with if you can spend an hour or two detecting the property and you will probably get a yes as the realtor is viewing you as a buyer and won't want to hurt your feelings. It's a sneeky way but it will work, Charlie

 

[Lowbatts]

As a local hunter who enjoys good relations with local folks I can tell you I'd be very upset if I knew you were calling the real estate agent and setting up appointments during hours they cannot meet just to detect the property. Hmmm, anyone around here familiar with this scenario? I thought so, that's why you had the cops called out on you by the realtors/neighbors, goofy!

Lucky you got off with warnings!

I do like the nerve though, you got a pair of grapefruits!

 

[Born2Dtect]

I still believe honesty is the best policy here. I would approach the realtor first then the the bank. Find out who can talk with you about the property. Keep a good liability release form with you if the bank gives you that excuse. Then if they say no it should be for another reason. Develope an honest relationship with the realtor and bank and it will pay off many times.

Ed D.

 

[Philvis]

I can tell you now that unless it is a local bank, you will not get permission from them. When there is a drop of liability involved, regardless if you have a waiver form, they want no part...especially nowadays. These bank owned properties are a big burden to the banks and they want the least amount of complications as possible. Lawsuits are just waiting to happen. If there is a possibility for you to get hurt on the property, for you to cut some utility line, dig up the septic tank, etc., they are not going to take the chance.

 

[nova]

What ever you do do it in person leave the phone behind maybe only to call for a contact.
I myself would not pass this on one up. Also if you do get a NO don't stop there. "Wait" and see if the
property sells, and try it again with the new owner.

 

[thrillathahunt]

This same scenario actually happened in my town. This guy was detecting vacant properties late at night. Someone saw him and waited until he went back to his car, got the license number and called the cops. The last I heard there was a warrant out for his arrest! No joke.

 

[day_sleeper_99]

I would guess the owner's name is Adams or Bates form the picture. Good luck with permission.