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Asked by Neela, Monte Sereno, CA Sun Jan 20, 2008

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Answers

4
Pam Winterba…, Agent, Danville, VA
Sun Jan 20, 2008
Neela....

The answer is is yes. Ideally you are purchasing it to live in. If you are an investor you will run into some difficulties as you are required to obtain a bond and this bond is not available. If the homeowner accepts the offer then they must get the banks approval to stay the foreclosure sale. Good luck.
Web Reference:  http://pamwinterbauer.com
1 vote
Perry Hender…, Agent, Austin, TX
Sun Jan 20, 2008
You can buy it but you hav ot pay off the entire amount to the owners bank. This is called curing the loan.
0 votes
Durenda Fach…, , Coastal Tampa Bay area. Pinellas and Pasco Counties.
Sun Jan 20, 2008
Neela,
The simple answer is Yes you can

The particulars of the situation are:
The seller has obligation to the real estate company for which they have committed auction. That said, if you buy, they probably need to pay the real estate company auctioning the agreed compensation.
Second, the sellers may or may not want to commit to a contract until all possible bidders are given a chance to purchase.
Best of luck
0 votes
Realtor, ,
Sun Jan 20, 2008
It's too late to buy from the home owner unless you can get a loan and close the deal by 1/29/08. Most of the time the owner will be very emotional and may have damaged the home or will definitely not want to talk to anyone. It's a very difficult time for the homeowner.
0 votes
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