Buying a house pre-foreclosure

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Icon Mini Profile katiegriest




Joined: 01 Jul 2009

Posts: 1

1.00 Dollars($)
PostPosted: Wed Jul 01, 2009 9:40 am    Post subject: Buying a house pre-foreclosure

We found a house that is on its way to being foreclosed on. I spoke with the owner and they are considering the option of doing a deed in lieu of foreclosure. What would be the best way to go about purchasing this home?
Icon Mini Profile gmakerley
gmakerley
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Joined: 09 Nov 2007

Posts: 9776
Location: bloomfield, ct
40.03 Dollars($)
PostPosted: Wed Jul 01, 2009 9:43 am    Post subject:

well, if the owner and you can negotiate a fair price, then the owner can go to the lender with that offer and request that the consider a short sale, if that's the case.

it's really up to the owner to make known the alternative to the foreclosure action, and then it's up to the lender as to how to react to the proposal.

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