Proceed with caution because there is a big difference between a home that is "in the process of foreclosure" and a "foreclosed" property. The information posted on many public sites for homes that are "in foreclosure" only represents the amount of the deficiency on the part of the loan holder. This is in no way a representation of the amount the lender would be asking once the property has been foreclosed on.
Working with a local real estate professional would benefit you greatly.
Most buyers would not pay the difference in the appraised value vs. selling price. Also if the buyers are purchasing the house on a full loan, they most likely won't have the additional $10K. If you really want to sell, lower the selling price to the appraised value or risk losing a buyer.... more
The Seller does not have to do anything, but you can offer what it takes to get the house sold. I just wonder if the buyer is even capable of this house financially if they are so hard pressed with the fees at closing!... more