If it is listed as a short sale you can. It doesn't turn into a bank owned property until the redemption period expires. Email me the address and I'll look into what bank will be taking it over. I have contacts at most banks and may be able to help!
Talk to you soon!
Kris Lindahl, CRS, CDPE, SFR
The quick and easy answer Manpat777 is "yes", you will.
If the owner is in redemption then they must pay the mortgage in full before redemption expires to regain possession of the property. I don't think that is likely to happen.
Eagan, MN... more
I'd call the county sheriff and ask what newspaper they publish Sheriff Sales in, and then, go online to that newspaper's website and cruise the public notices for a Sheriff's Sale notification on the property that you are inquiring about. I recently did exactly that on a property that I had interest in and had the answers that I wanted in less than 20 minutes. There is a six month redemption period in MN in which you can live and rent the house, but if it's not redeemed by the owner, the buyer at the Sheriff;s sale takes posession at the end of that 6 month term.
I hope that works for you as well as it did for me.
Thanks, Todd Norsted
Thanks, Todd Norsted... more
Want To Buy A Eagan Foreclosure?Are you presently searching for one of the foreclosures in Eagan? Whether you own a home now or are a Minnesota first time buyer, you will want to learn the basics of Eagan
Are you planning to buy your first home in Eagan, MN? There are some basic things I would like to share with you about Eagan real estate to help ensure you avoid some of the biggest mistakes many first
I would have an agent call the mortgage company and work on negotiating a short sale without recourse. Failing that, you might want to try for a deed in lieu of foreclosure without recourse. If you need some help or have any questions about this I would be more than happy to help.
Your question lacks a few points. Is the propety listed? If it is listed than it should be no different than any other property and you can make an offer to have them pay closing costs and the listing agent will be paid by the seller. If you are looking at making a deal directly with the homeowner then there should be no agent needing to get paid. You can always raise the purchase price and ask the homeowner to pay closing costs to help you obtain the loan. Hopefully I answered your question with the details I was given.... more
All real estate transactions must be in writing. Until you have a written contract you don't have a deal. You can say no to their counter offer or try to meet in the middle. There are a lot of town houses for sale, if you don't think it's not worth $148,000 or you think you're being treated unfairly keep looking. With foreclosures the banks do seem to make the rules as they go.
Michael Doyle Realtor... more