Posted on: 01st Jul, 2009 09:40 am
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?
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.
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.