Calling All Brokers: Looking to buy branches from banks
Looking for leads on bank-owned branches for sale. I have a fund set up for buying this asset class. Anywhere in the US. Message here or PM me.
[{"id": "ia0spc1", "text": "In my experience, banks are required to advertise for sale for a minimum 30 days or something then run an auction open to the public. Tried to get some off market deals done with BofA and Key Bank and basically got laughed at", "replies": [{"id": "ia0tbwr", "text": "That's interesting to hear, but can share only from my experience that it's not the case. I have done off market sales multiple times. As long as the location is not new or going to be closed, the bank can choose what they want to do with their RE.", "replies": [{"id": "ia0tsh0", "text": "In both of my cases the bank was being closed. Maybe that he something to do with it?", "replies": [{"id": "ia0yxui", "text": "Yeah, if it\u2019s being closed or the regulators are pulling the charter, it must go to public action. At least in my state.", "replies": [], "depth": 4}], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "ia0z57v", "text": "Closing a branch trips a regulated process.", "replies": [], "depth": 1}, {"id": "icqusxg", "text": "In my experience, they've only sold as vacant.", "replies": [], "depth": 1}]