Can you buy a home from the owner if it is already in foreclosure?
Question:
Answer:
Yes to the first part of your question and the Home is available 60-90 days from then unless otherwise specified...the real estate broker or mortgage place will love to unload this property ASAP!
Yes.
no- it`s called stealing! from the bank.
You can go to the auction. It's too late.
If it's in foreclosure, I don't think the owner could transfer the title to you. I think you need to deal with the lender. They might be willing to let you buy before the auction.
NO, However you can buy from the owner the right of redemption on the property. Usually this is done because the lender will only bid what is owed on the property and no one else does. So if you want to buy the property for what is owed go ask the lender to sell it to you for what is owed if it is a good price. If they jack you around then go to the owner and give them a few bucks for their right to redeem the property after auction. Make sure you have the money lined up for the purchase. I love going back to the bank and talking to the people who told me I couldn't buy it for the same price the bank got it for.
Life's little pleasures
You gotta do the paperwork and get with the lender asap. and even then the lender may not want to work with you.
They do want thier monies and remimber cash talks.
It would be better for the owner, but I think once it's in foreclosure, the bank won't let you out-and-out sell it. I'm pretty sure you have to just buy it in the foreclosure auction. Check with authorities :)
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