I put an offer on a house with the owner as the seller, however, the realtor for the seller said the house is

Asked by Paul Bombardier, Denver, CO Fri Mar 28, 2008

in forclosure. If this is true, wouldn't the bank be the seller not the old owner? Is this normal or is something fishy going on?

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Tracy Howard, , 80022
Tue May 27, 2008
It probably is IN foreclosure, but until the foreclosure auction, the old owner is still the current owner. There is probably nothing fishy going on. I specialize in the Reunion/Fronterra Village area, and there are several great opportunities in both of these areas. Please feel free to contact me if you are interested in being represented by an agent. tracy.prairiestar@gmail.com.
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Linda Carroll…, , Lacey, WA
Fri Mar 28, 2008
This might be a "short sale" where the owner is in a race with the clock to avoid foreclosure.

In a short sale, the owner puts the home on the market, and accepts an offer with the condition that the lender also approve the purchase. The lender has to approve it, because they will be getting less than they would have if they had collected the entire mortgage.

We'll be seeing many more short sales in the near future.

I hope this helps! Let me know.

Linda Carroll
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