Generally speaking, once the house is sold at a sheriff's sale, it is supposed to take 37 days. It depends upon how many liens are on the property, how backed up they are ect. I've seen it take almost 3 months before and as quick as the 37 days(30 days for confirmation or owner's redemption period and additional 7 days to prepare the deed).... more
Going shopping for a home you must get mortgage first. It may seem backwards to shop for a mortgage before you shop for the house, but there are several reasons for doing this. Shopping for a mortgage will also help if you can get “pre-approved” for the amount you’d like to borrow. This means the lender has looked over your credit and financial statement and agreed to lend you the money. Sellers like pre-approved buyers because there’s less risk the deal won’t go through. First, you’ll find out how much you can borrow, which has a lot to do with how much house you can buy.
Whether you’re, buying, or building your dream home, you have a lot riding on your decision. Market conditions and mortgage programs change frequently, and I welcome the opportunity to serve your needs with quick and accurate Real Estate financing advice. Already working with another Lender get my top 25 Questions that you should ask the Lender for FREE along with FREE competitive pricing and analysis based on the exact same mortgage and 2 others that you can qualify for. I have the expertise and knowledge to help you determine the absolute best loan program to meet your objectives.
Ensuring that you make the right choice for you and your family is my ultimate goal, and I am committed to providing my customers with mortgage services that exceed their expectations.. As always, you may contact me anytime by phone, fax or email for personalized service and expert advice.
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Tell me what you are looking for in general,,price range, features etc, and the amount you have to put down. Also let me know the best time and means to contact you. Or feel free to call me at 937-307-2961 or e-mail me at email@example.com..have a good one!... more
The home owners are behind on their payments to a point that the bank will foreclose on the property and will either, purchased it back at sherrif's sale but it back on the market for sale or sell at an auction.
PRE-FORECLOSURE is the process prior to the above process
Hope this helps... more
Simply put NO. Banks will not accept offers contingent upon a buyer selling their home. you will need to sell it forst or seek a bridge type loan or such to be able to purchase the bank owned home without contongincies.... more
Please keep in mind also that a sheriff sale you inherit all the problems of the property. By that, the sheriff only has to give a Sheriff Deed and with that you get all the mechanic leans, back taxes,
Assessments and abatements and any other problems that the property has you get it all. In most cases you are not even allowed to view the property ahead of time. The banks if they buy the property back have to clear out all the clouds on the title to transfer title to the new owner. And always when buying at Sheriff sale or foreclosures please for your own protection check in to Owners Title Policy. Owners title policy is for the buyers protection and is in your best interest to have. Any title company can give you the details on owners title policy if you do purchase a home from either a sheriff sale or foreclosed home.
You can get qualified for a loan, however, you will need to let your lender know that you will need to sell your house before you purchase one. You should first put your home on the market for sale, once you get an offer on your current home, then you start shopping for your new home.
If you need to put your home on the market and you need a listing agent. Please call me.