If it is listed for sale by a bank, you can place an offer as you would any other home. I don't see it listed on Realtor.com, so it is possible that the bank just recently foreclosed on it and have not listed it for sale yet.
Check the public records in your area to find out what has happened with the home.
If it is a pre-foreclosure, that is a different ball of wax. You can attempt to contact the owner to see if they are interested in selling, but it is not an easy thing to do. You would have to convince the owner to sell the home and also get it approved by their lender if it is a short sale.
This is possible, but more complicated since the sheriff's sale has already occurred. As long as the property is still occupied, the owner has 6 months to "redeem" the property. Some banks will still consider a short sale during this redemption time frame. I can assist you with negotiating the transaction with the bank if you and your neighbor are interested. Feel free to contact me at email@example.com or 989-492-0650.
Tom Webb, Realtor
Certified Distressed Property Expert (CDPE)
Acres & Homes Realty Inc.... more
I am glad you're here! Well you have a couple options here.
(1) do you like where you are living? would you ever consider purchasing the home? You may be in a prime position to own a home your comfortable with and love at deep discount pricing. Does this sound good to you?
(2) If the bank has notified you of a foreclosure, you have a contract to prove that you are rightfully living there and the cashed rent checks to prove it. In your situation you may be able to approach the bank and either negotiate to remain in home as a renter or a lease with option to buy while they figure out what to do with the home, just be prepared to prove that you have been making payments monthly to the owner. How would you feel about something like this?
(3) You are the tenent occupying the home, the bank forecloses on the home and they want to take back possession of that home. You will need to be out of the home, but to insure that the home will be turned over in good condition banks can and will offer you, what is called cash-for keys (I can send you more information). These are general concessions made to you as the occupant instead of the owner of the home who never sees it, call the bank who came to issue you a notice and explore this option if you flat out want to move out of the property.
If you have more questions I can answer them confidentially for you through the "ask me a question" link in the upper right of my web page. Of these three options what sounds like it may work best for you in your situation?
Gloria, contact a buyers agent who can represent your best interest in the Saginaw area and ask them if they work with many foreclosed properties. You want to be sure they have experience with these and they are their own unique animal! They should be able to create an instant email notification of any new bank owned properties hitting the market/MLS for you. They should also be able to compile what is currently available that is bank owned. For HUD listings available in Saginaw visit. www.mcbreo.com and type in your zip code or city. Good luck!... more