Deutsche Bank is a global bank which provides the entire range of financial and banking services . It is headquartered in Frankfurt, Germany, with its operations spread out in 76 countries. Deutsche Bank has been an active player in the home lending market in America. When borrowers default on their mortgages, they are subject to mortgage foreclosure proceedings which culminate in a foreclosure auction. When the properties fail to sell at the price for the lender set reserve, the foreclosing bank or mortgage lender has an option to reposses such properties. These repossessed properties are commonly referred as REO or “Real Estate Owned by Banks.” All such repo homes owned by DB make up the inventory of Deutsche Bank REO properties.
Deutsche Bank REO Department
The process of REO property management from the moment of foreclosure to the final sale are either handled internally by the Bank’s own internal REO asset management department or outsourced to REO asset managers who specialize in handling such repossessed foreclosed homes. All inquiries regarding information related to residential REO homes and properties owned under the control of Deutsche Bank REO department can be addressed to:
Deutsche Bank 1761 East St Andrew Place Santa Ana, CA 92705
Tel: (714) 247 6000
Fax: (714) 247 6022
The REO department at Deutsche Bank entertains enquires only through fax or by mail. It is extremely difficult for small or begining real estate investors or realtors to contact the DB REO department through their listed phone number here.
Deutsche Bank Owned REO Listings
Inorder to buy bank REOs, the first place investors need to look is through the bank’s own website that lists REO listings. All the major banks’ REO departments such as Chase REO, CitiMortgage REO, Bank of America REO have excellent sites listing their entire inventory of single-family and multi-family homes on their websites. The same is not the case with DB. The only way to enquire about Deutsche Bank Owned REO Listings is through their listed fax number. Some big investors interested in buying bulk REOs can establish contacts with Deutsche Bank REO asset managers to initiate the process of acquiring these Deutsche Bank Owned REO homes.
Deustche Bank REO Listing Agents (Realtors)
Even when banks have their own REO department, they usually enagage the services of outsourced vendors who are qualified and pre-screened. In other cases, they hire selling agents to handle not only the foreclosed property management, upkeep and also the selling process. These REO agents involve at the initial stages by providing their Broker Price Opinions. These reports help the REO bank determine the selling price. The competition to perform these services can be quite intense as the current real estate market is filled with REO foreclosed homes. To be an approved Deutsche Bank listing agent, it might be essential to aggressively pursue the REO managers at Deutsche Bank National Trust to have any success. Once approved, the Deutsche Bank REO Listings are listed for sale through these approved real estate selling agents. Listing Bank REO properties from DB can be a lucrative career for real estate professionals.
Buying Dutsche Bank REO Homes
The ability to spot good deals is primary to succeed in residential or commercial real estate investing. REO homes are treated as non-performing assets on the books of banks and lenders. The lenders have not only lost their interest income due to borrower default, they also have to spend extra for the foreclosure proceedings and management and reselling the repossessed REO property. Due to these these Deutsche bank owned reos are usually priced substantially below the market value. Investors by acting fast can acquire these underpriced REO homes in their area with a substantial built-in equity. By seeking the Deutsche Bank approved listing agents in a given area, investors can succeed in their residential real estate investment endeavours.