info@impactpaintinginc.co
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 Posted: Mon Nov 02, 2009 4:52 am Post subject: Renting and trying to purchase a home that is in foreclosure |
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| Found a homeowner that is willing to rent me his home that just went into foreclosure. Then I would like at the same time as I move in to put a short sale offer on it. The home owner is a realtor and tells me that without his signature the bank can not short sale his home, so I do not have to worry about any other offers to the bank acccept mine. Is this true? I am worried about 2 things. One getting kicked out of the home before the bank accepts my offer, and the bank accepting only my offer. The positives are I could probably purchase a $350,000 home for $200,000. |
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 gmakerley
Community Mentor
Joined: 09 Nov 2007
Posts: 7433
Location: bloomfield, ct
67.00 Dollars($)
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| Posted: Mon Nov 02, 2009 8:12 pm Post subject: |
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you need to be able to check in with someone who actually works for the lender to see if what this realtor is telling is the truth. i wouldn't put blind trust in a seller who is in the midst of a foreclosure action, especially one whose position would normally engender belief in a buyer that he is giving all the correct information.
don't take the word of someone who is facing a foreclosure.
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George M. Akerley
Loan Consultant
860-221-5044 |
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