Rentals in 19124>Question Details

voyage1985, Renter in Philadelphia, PA

What happens if a bank own property never get bought out by another party?

Asked by voyage1985, Philadelphia, PA Wed Mar 27, 2013

Place went foreclosed- Owned now by Bank- Now Bank trying to sell property. How long does a bank continue to own property?

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Sheri Curci’s answer
Hello Voyage,

Bank recycles it for another sale time or they can package the unsold home with other desirable home purchases as a bundle sale.

Believe me the Bank does not get stiffed

All the Best Endeavors to you...John Curci RE/MAX 1-866-473-6290
Web Reference: http://www.HomeCatch.com
0 votes Thank Flag Link Fri Mar 29, 2013
Title to a property changes hands when sold. The bank is responsible for the property while the bank owns it.
0 votes Thank Flag Link Wed Mar 27, 2013
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