I posted this under lending, maybe that was the wrong place.
I was wondering if anybody had some insight as to selling bank owned property. One of our loan officers wants to put the property on Craigs list. It would not have the banks name, only the price and a name and number of who to contact. What kind of problems will we run into as far as compliance, laws, regs etc....
any help would be appreciated.
Thanks

While we didn't place ads on Craigs List, did place rider signs in front of properties without bank's name. Only had the APR and a phone number to call. We also developed a non branded website to list foreclosed properties that included property address, phone number, price, and photo. We did not include individual's names on either of these just the phone number. Disclosures were at a minimum since neither were branded.

Thank you