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
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 firstname.lastname@example.org..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
You can, but a contingent offer is not as strong as unemcombered offer. Foreclosed properties take a long time to get responses from banks it most likely is not worth the effort and I am not sure the bank would even entertain the offer. Best advice, ask the listing agent of the property as they would know what the bank is willing to do.... more
Unfortunately not, the bank must see you have a hardship and they will not allow the seller to net anything because they are already taking a loss so any $$ available must be paid to them. It would be defrauding the lender if the seller walked with any cash. The good news is that your credit will be less affected by the SS rather than a foreclosure.