Sales contract, preapproval from your buyer, etc.
If it is just a straight contingency to sell your home and it is not on the market or you don't have a buyer in hand, then this is much more difficult for a bank to consider. If you have strong non-refundable earnest money or something you can offer them again they might consider.
Here is a link to all the foreclosures I currently see in Denton if for some reason the one you have your eye on doesn't work out.
If we can help you in any way, just let us know.
Keller Williams Realty
In my experience, the more local the bank, the more likely the affirmative answer. And, if you are willing to do the home purchase using their bank for your loan, then they have the added benefit of working with you.
It doesn't hurt to ask. The worst they will say is 'no'.
Have a blessed day.
Why would a bank want to do this? They rather have a lower offer than a contegent offer, this will fix their loss.
First Weber Group
Certified Distressed Property Expert
If it's one of the big dogs banks, they just don't accept them.
Now if you can afford both houses, you can put in an offer but you need to be able to qualify for the loan even owning the other house. I sell a lot of foreclosures in Denton. Call me if you have any more questions. 214-682-4135
Contingent on what?
On you getting financing. Yes
On you doing inspections. Yes
On you selling an existing home. NO
The bottom line is you won't know until you ask. Find a realtor and write an offer.
Fran and Mark Redding
Prudential Fox Roach
1010 Stony Hill Road
The banks want non-contingent offers....In my experience, you submitt a non-contingent offer to the bank, and they will consider the first sales contract submitted. They usually will accept or decline the written offer, and may take back up offers to consider if the first offer does not suit them. It's a one at a time contract review by the bank. Keep in mind, the banks are stuck with these properties, and they want to sell them as quickly as possible, with no strings attached.