Home Buying in 92345>Question Details

Huber, Other/Just Looking in Bonita Springs, FL

Can I buy a property my dad sold on a short sale a year ago?

Asked by Huber, Bonita Springs, FL Sun Jun 17, 2012

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Answers

8
Definitely, Yes. You can buy that property as long as the current owners like to sell.

Best of Luck,

Maria Cipollone
Century 21
http://www.FlaHomeSpecialist.com
1 vote Thank Flag Link Fri Sep 7, 2012
Yes, we can help. Check us out at http://www.Under640FicoScoreLoans.com or http://www.FrankandSheryl.com

Sheryl Arndt, Broker
DRE# 01140252
NMLS# 297251
760-486-4225
0 votes Thank Flag Link Fri Sep 7, 2012
Huber:

Yes; here's why:

Short Sale Lender(s) normally require an "arms-length" transaction in the initial short sale transaction (short seller to new buyer). Including the Seller, the property may not be sold to anyone the seller has a close personal or business relationship with including family, friends, or in some cases, even neighbors.

The Seller is normally required to sign a contract addendum/statement confirming a transaction’s “arms-length” status. An example of the text is as follows:

"SELLER AND BUYER EACH REPRESENT THAT THE SALE IS AN " ARMS LENGTH" TRANSACTION AND THE SELLER AND BUYERS ARE UNRELATED TO EACH OTHER BY FAMILY, MARRIAGE OR COMMERCIAL ENTERPRISE."

Since in your case the initial short sale transaction has occurred you have every right to purchase you father's past home if the seller is interested.

-Steve
0 votes Thank Flag Link Mon Jun 18, 2012
If it is for sale and you have the bucks, yes.

Nope
Jim Simms
NMLS # 6395
JSimms@cmcloans.com
Financing Kentucky One Home at a Time
0 votes Thank Flag Link Mon Jun 18, 2012
Huber;

Yes.

Let me know if I can help.

Bo Goulet, cdpe
Certified Distressed Property Expert
DRE #01854568
Shear Realty-Spring Valley Lake
12170 Spring Valley Pkwy.
Victorville, CA 92395
Mobile: (760) 713-6137
0 votes Thank Flag Link Mon Jun 18, 2012
Short answer: Yes.

If the owner will sell.
0 votes Thank Flag Link Mon Jun 18, 2012
Hi!! Yes, you can purchase a home your Dad sold. Are the current owners wanting to sell the home now? If so, you can negotiate a deal with them if they are willing to carry the loan. If your credit is good and you have money for a down you can purchase it yourself also. It just depends on your situation. I hope this helps!

Veronica Rogers - Realtor
Real Estate Ebroker
760-953-5703
0 votes Thank Flag Link Sun Jun 17, 2012
If your dad sold it, then the new buyer would have to want to sell it. If you see it listed now you can simply contact the listing agent or use a buyer broker who can assist you through the process.
0 votes Thank Flag Link Sun Jun 17, 2012
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