i put in an offer for a client on a home that I was told was in pre-forclosure. The next day I was told that

Asked by Julie Moore, Raleigh, NC Sat Jun 14, 2008

my offer wasn't accepted b/c the lender didn't want to post-pone the auction...which turned out to be the next day. My client still wants to buy the house, but I don't know how to find out if the house is now bank owned or if someone else bought it at the auction. I have called the attorney and the lender and I keep getting told that they can't give me that information. Any ideas?

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AJ Heidmann, Agent, Arlington, VA
Sat Jun 14, 2008
I suggest that you go to the county land records department and search the property address to see if a new owner has been recorded. Usually for a property bought at foreclosure the substitute trustee has to make sure the owner didn't file bankruptcy or sell it prior to the auction, so the actual settlement could be delayed for upto 15 days from the auction date, which could explain why they won't provide any information. Once a sale is completed & recorded, it is public record and they should be able to talk about it IF they choose to.

Hope that helps and let us know how it turns out.

AJ Heidmann ABR, CRS, e-PRO
Cell 703-474-1260 Fax 703-518-8314 Toll Free 877-727-3631
Coldwell Banker Residential Brokerage, Old Town Alexandria
"Serving Distinctive Clients & Properties in Northern Virginia"
1 vote
Julie Moore, Agent, Raleigh, NC
Mon Jun 16, 2008
it already went to auction, I don't know why they didn't cancel it. My buyer had a pre-approval letter and an EMD, it was a VA loan, so 100% financing. But it turns out that it didn't sell at the auction, and is now bank owned, I'm working on finding the correct contact for the bank right now. Thanks for your help :)
0 votes
Alvin Lapitan, , Virginia Beach, VA
Mon Jun 16, 2008
Hey Julie, Deb is right. I actually bought my primary residence about 2 years ago, 1 week prior to auction. I gave them a pre-approval & down payment, and they cancelled the auction. Since your auction has probably already progressed, check to see if there was a buyer.

Let me know if I can help your client or any others with financing needs!

0 votes
Deb Vinson, , 21740
Mon Jun 16, 2008
Try contacting the Auction Company. They may be able to give you the answer you are looking for.
0 votes
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