Foreclosure in Colony Woods>Question Details

Rontx, Home Buyer in Colony Woods, Sugar...

ok. so the owner is in jail, the bank has gotten an order from the court to foreclose as of De 6, yet the house is still listed and the house is

Asked by Rontx, Colony Woods, Sugar Land, TX Thu Jan 19, 2012

still occupied and i cant get the lawyer for the bank to return phone calls. ANYONE know what give... interested house investor here.

Help the community by answering this question:

Answers

2
If the owner is in jail, then he can be found. You may have to write. If he is nearby, you can probably even visit. If you can find his lawyer, it might be best to deal with him. You will have to demonstrate that it is in his client's best interest to sell to you. And he may not feel that it is.

In my limited experience with one seller who was incarcerated, he did not care much what happened to his property.
0 votes Thank Flag Link Fri Jan 20, 2012
The lawyer from the bank is not going to call you back so don't waste your time on that. If you can't get in touch with the owner to make an offer to purchase the property, then your only other option is to wait for the bank to foreclose. If you are a seasoned investor you may be able to purchase the home at the foreclosure auction, however that is something that is usually only done by the most experienced investors and you reallly need to know what you are doing and have funds in place in order to pursue that option. If not, if the bank takes the home back, you will have to wait for them to put it back on the market, through a real estate brokerage, as a bank owned property. And THAT could take a very long time as the banks are in no hurry to get these homes off their books. Bottom line, if you can't get in touch with the owner, it's probably best to move on.
0 votes Thank Flag Link Fri Jan 20, 2012
Search Advice
Ask our community a question
Email me when…

Learn more

Copyright © 2016 Trulia, Inc. All rights reserved.   |  
Have a question? Visit our Help Center to find the answer