my home sold at sheriff sale on dec.30,2011. i have someone that is willing to buy it but the bank will not budge. how long will it take its BOA?

Asked by Lisa, Ohio Tue Jan 24, 2012

the bank of america are crued people that shouldn;t be in business. i do not want to move!!!!

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FSBOsuccess, Home Seller, 28590
Tue Jan 24, 2012
The matter is know out of your hands. You didn't pay the mortgage so the bank now owns it. How does that make the bank the bad guy?? Did you mean "cruel" instead of "crued?"
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Gary Geer, Agent, Antioch, IL
Tue Jan 24, 2012
If your home sold at a sheriff sale then the bank now owners the house. The bank or an agent working for the bank will most likely contact you soon about your intention to move. Some banks will work with you as to when you must move and may even offer you financial relocation assistance (FRA). FRA is they may offer you a cash amount to assist you with your move. You may be able to negotiate with them and get more than their original offer. While you are waiting to be contacted, start thinking about what amount you would need. I would also start looking for a home rent if you don't have anywhere else to go. When your contacted try to work with the agent presenting the offer. If you are not contacted you can contact the bank and let them know you are willing to work with them. This is better than waiting for the eventual eviction.

All the best,

Gary Geer
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Scott Godzyk, Agent, Manchester, NH
Tue Jan 24, 2012
Lisa you should speak with a local attorney, i am not sure if OH has a right of redemption. Here in NH we do not, so once teh gavel hits the bank takes it back, you no longer own it. In most cases after the foreclsoure the bank assigns the home to an asset management company that will sell the asset. They will assign it to a local and approved agent. In virtually all cases the house has to be vacant for the company to appraise it, clean it out and place it for sale. There are very few instances where the bank will sell a home that is occupied unless it is through auction where they are released of liability. An attorney can at least inform you of what your state law is and what your options are. Good luck working things out
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