my condo is in foreclosure can u sell it?

Asked by Cookie 5394, Charlotte, NC Sat Dec 11, 2010

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Bill Ahls’ answer
Bill Ahls, Agent, Cornelius, NC
Sat Dec 11, 2010

Regardless of the stage of foreclosure you're in, you can probably pursue a successful short sale if you are able to document a hardship. However, before you accept a short sale make sure that you have fully exhausted every option to stay in the home. While they're difficult to get, loan modifications do happen and some have been very creative and beneficial to the homeowner. To optimize your chances, as hard as it may be, answer at least 1 call a week from your lender. Their autodialer can be quite annoying but it's very important for you to have a good communication path documented with the lender. They DO NOT want to foreclose on you and the more you remind them that you want to work with them, the better. If that doesn't work then a short sale is certainly far better than foreclosure. Call me if you'd like to discuss further. Best of luck!

Bill Ahls, Broker-Owner
NHB Group, Inc.
1 vote
Keith Manson-…, , Milwaukee, WI
Tue Dec 14, 2010
It depends on your situation:
with the property?
the condo associaiton?
the number of rentals in the complex?
how soon the the foreclosure sale is?
if you have the short payoff amount or if you are looking the bank to accept a short payoff?
If you meet the banks hardship requirement if you are doing a short payoff?

So there are lots of questions that need to be answered before your question can be answered. The main thing is find a expert that knows the process and has experience in dealing with properties and condos in foreclosure.

Good Luck

Keith Manson

First Weber Group

Certified Distressed Property Expert
Metro Milwaukee
0 votes
dave, Agent, Charlotte, NC
Sun Dec 12, 2010

You have received a lot of good answers here. The primary question we all need answered is where are you in the foreclosure process? That can set the table for what can be done and what cannot be done.
generally, you can sell your home even if you are in foreclosure. It does nto matter. if you owe more than the home is worth you would need to look into what is known as a short sale. this is where you pettion the bank to accept less than you owe on the condo. Unfortunately in this econimic times they have become more the norm than the exception.
The process takes soem time and needing to know where you are in the foreclosure process will allow us to let you know if it is feasible or not for you
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Bob Bunzey, Agent, Charlotte, NC
Sat Dec 11, 2010
Hi Cookie,
The short answer is "maybe". It depends on where in the foreclosure process you are and what you want to do. Do you want to move? Do you want to salvage your credit to some extent? Do you want to get some equity out of the house? What kind of shape is your house in?

A strategy is important to get you where you want to be. I would love to help you.
0 votes
Rod Potter, , Charlotte, NC
Sat Dec 11, 2010
Hello Cookie,

I have been doing pre-foreclosure/shortsales for many years. I would be happy to help you out.


Rod Potter
Wilkinson and Assoc
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0 votes
Erika Pitman, Agent, Charlotte, NC
Sat Dec 11, 2010

There are ways to stop the foreclosure depending on how far they have gotten in the process. The first option is to sell it. I recently was able to list a home and have it sold before the bank sent it to action. There are also options that you can try if you want to keep your home. The sooner that you talk to a local real estate professional, like myself, the more that we can do. Call me today there is no obligations or fees for making this call!

Erika Marsh Pitman
Keller Williams Realty
704-576-1671 cell
0 votes
Josh Fretz, Agent, Charlotte, NC
Sat Dec 11, 2010
Depending on the stage of the foreclosure you may be able to put it up for short sale. I do many short sales in the Charlotte area and may be able to assist you in the process.

Email me your information and I'd be more than happy to look into for you.


Josh Fretz - SFR
RE/MAX Metro Realty
0 votes
Anna M Brocco, Agent, Williston Park, NY
Sat Dec 11, 2010
How far into the foreclosure process are you, and is a short sale an option at this order to best protect yourself and any other assets you may have, consider consulting with an attorney who specializes in real estate beforehand.
0 votes
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