Foreclosure in Wareham>Question Details

Stone1401, Home Buyer in 02571

In Wareham, ma, is it possible to buy a forclosed property, with cash, and take possession quickly? Or does it take long?

Asked by Stone1401, 02571 Wed Apr 13, 2011

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Joe Arnao’s answer
As stated by others, yes. Make sure you do your due dilligence before going firm with the P&S. Many bank owned deals end up with problems if they buyer is not careful. Investigate it as much as possible, both structurally and legally.
That said, many bank owned deals offer a great opportunity too.
0 votes Thank Flag Link Sun Apr 17, 2011
Typically it should take less than 30 days with proof of funds. I have successfully handled a large number of purchases of bank-owned foreclosed properties. I list & sell Wareham properties. Call me anytime at 508-889-6765 if you would like to put my experience to work for you. Thank you.
0 votes Thank Flag Link Wed Apr 13, 2011
As long as the banks paperwork is all set up you can close in 10 days, call me if you want to see the home.
0 votes Thank Flag Link Wed Apr 13, 2011
I don't know what you think is quick. There is some title work that needs to be done. But I have had cash buyers buy a foreclosure in 23 days from offer to closing.

It is really dependant on the bank.
0 votes Thank Flag Link Wed Apr 13, 2011
As Linda said, it can depend but it is definitely possible. Normally, the biggest hang-up is the title work that needs to be done. It also depends on what you mean by 'taking possession quickly.' If you are thinking 30-45 days, then most likely you can. Less than 30 days can be trickier.

Good luck and let me know if you need any help with your search in Wareham.

Sarah Nathe
Loss Mitigation Certified!
Serving Cape Cod and Plymouth County
0 votes Thank Flag Link Wed Apr 13, 2011
With an cash purchase it depends on lender, title company complete all the paperwork transaction. At times it can take 5 - 45 days with cash purchase

Lynn911 Dallas Realtor & Consultant, Loan Officer, Credit Repair Advisor
The Michael Group - Dallas Business Journal Top Ranked Realtors
0 votes Thank Flag Link Wed Apr 13, 2011
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