Home Buying in 49504>Question Details

karenmi, Home Buyer in 24130

If a home is in its redemption period, can I make an offer directly to the bank for if/when they foreclose?

Asked by karenmi, 24130 Tue Feb 25, 2014

I recently made an offer on a house about 4 mos into its redemption period. Seller initially told his agent he'd accept the offer, then decided he couldn't come up with enough cash to close. He apparently plans to let the bank foreclose.

Seller's agent said my offer was as high or higher than seller could expect, and it was a cash offer. The bottom line is that I don't think the current owner will be able to sell the house. Is there any way for me to deal directly with the bank at this point, or do I have to wait until they put it on the market after foreclosure? Thank you.

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