2. Use a broker

Work with brokers; banks use them to sell most homes. Once you’ve identified which properties are REO, you’ll know those are the ones for which a low-ball offer is more likely to be accepted.

Forget buying directly from the bank (lenders typically deal only with pros) or at auction (you may wind up bidding more than you should).

There are other reasons, of course, but the notion that a not having your own broker will somehow save you money is complete folly. The only time I have seen it work is when the buyer has been…a broker themself.