During the process of a short-sale, your REALTORÂ® should explained everything to you. The short-sale process does not stop a bank from going through to foreclosure, and your REALTORÂ® may have been able get the date for your ahead of time. Sometimes the Listing Agent is able to share this information with everyone.
Whether you are buying or selling... work with a REALTORÂ® who has/will prequalified the short-sale client. This will, hopefully, have advanced information available for the Buyer from the bank holding the mortgage on the home that is for sale.
If you have not already signed an Agreement with a REALTORÂ®, I'd be happy to discuss this further.
REALTORÂ® - Licensed to Practice Real Estate in the Great State of Texas.
Are you the homeowner or a buyer that put an offer on the house?
If you are the owner, the bank will not stop a foreclosure unless you have an offer on the house and they agree to it. If you
Also, Nancy is correct, just because it shows on that site doesn't mean that it is scheduled for foreclosure.
Just keep looking and you will find a good home.
Aaron and Coni are both correct but how do you know it is up for auction? Where did you see it for auction? Just because it is on Realty Trac does not mean it is up for auction. I would contact your agent who wrote the offer for you asap to see what is the status.
Best of luck,
Doing a short sale with an agent is no guarentee that the bank will not foreclose on the home during the process. It really depends on how far you are along whether the bank will hold up the foreclosure. I would need to know more about what happened to answer further.
Good luck, and contact me with any futher questions... Coni Otto