Foreclosure in Peru>Question Details

William Cald…, Renter in Peru, IN

are any of the bank owned foreclosure homes available for sale on contract?

Asked by William Caldwell, Peru, IN Mon Jun 28, 2010

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Dawn,

William was asking whether banks will sell foreclosures on "land contract." It's a common question we have around here - but the answer is always NO.
0 votes Thank Flag Link Mon Jun 28, 2010
If Peru, Indiana is anything like what we are experiencing in California, the answer is - Yes and No.... But Not in the typical real estate sense. The banks I have dealt with in my buyer's transactions do sign our contract but present their own forms for signature first. If there are any contradictions, their contract will prevail - they make sure of that. I like to note that we are dealing with the Wild West out there as anything goes these days so be very careful and know what you sign. You will have a contract but make sure you know what the extra forms say.

Good Luck.

Dawn O'Neal
Realty World Executive Advantage
Web Reference: http://www.DawnOneal.com
0 votes Thank Flag Link Mon Jun 28, 2010
William,

Unfortunately, no. Banks only sell foreclosed homes to cash buyers or to buyers with a mortgage.

In response to your inquiry about my listing on N Meridian, I'm sending you a private email.

Betty Byrnes
0 votes Thank Flag Link Mon Jun 28, 2010
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