reWhen a person has been dead for three years and the bank will not release the condo that is.in forclosure What can I do to buy it.

Asked by Jeanette Pellegrino, Jacksonville, FL Thu Nov 10, 2011

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Angie Simpson’s answer
Angie Simpson, Agent, Studio City, CA
Thu Nov 10, 2011
Jeanette,

Have a local realtor look into it. They should be able to find out when the auction is supposed to happen - after probate is complete. If the house is not bought at auction it will go back to the bank and then the realtor can find out who owns it by checking the public records. I have had luck tracking down REO agents that work with particular lenders or servicing companies, and contacting them to ask that they notify me when the listing comes down the line. Perhaps you could find a realtor there that will have some inside info. or luck getting in touch with the REO agent to put you first in line.

I hope it works out.

Angie Simpson
Coldwell Banker
Web Reference:  http://www.angiesimpson.com
0 votes
Ray And Karen…, Agent, Mount Dora, FL
Thu Nov 10, 2011
Hi Jeanette,

Don had a good answer.

There may be an executor.

Take a look at the public records.

Best of luck to you.
0 votes
John Bennett, Agent, Orlando, FL
Thu Nov 10, 2011
Demand change in Washington DC.
0 votes
Donald Price, , Orange Park, FL
Thu Nov 10, 2011
Jeanette, Has the estate gone through Probate yet? If not noone can sell the house. The lender that has the note will foreclose as soon as it comes out of Probate. Then it will be listed in MLS as a REO(bank owned). I can help you with your real estate needs. Also I am a State Certified Residential Real Estate Appraiser as well as a Remax Realtor. I know the local market. Please call or email me 904-962-8089, dprice@agentlink.net
Thank you,
Don Price USN-RET
SFR, CDPE
REMAX Specialists
0 votes
Doug Casteel, , Jacksonville, FL
Thu Nov 10, 2011
The bank can't release the property for sale untill the judge issues a final judement of probate. Until then it's tied up. There are pleanty of other very good buys out there. Give me a call and I'll be happy to show you what you can get.

Best Regards

Doug Casteel
Broker/Owner
Castle Realty
904-463-4264
0 votes
Doug Casteel, , Jacksonville, FL
Thu Nov 10, 2011
The bank can't release the property for sale untill the judge issues a final judement of probate. Until then it's tied up. There are pleanty of other very good buys out there. Give me a call and I'll be happy to show you what you can get.

Best Regards

Doug Casteel
Broker/Owner
Castle Realty
904-463-4264
0 votes
Tim Moore, Agent, Kitty Hawk, NC
Thu Nov 10, 2011
If it goes to auction at the courthouse you could bid on it then. Otherwise you are best off to wait for the foreclosure process to end and see if the bank gets it back at auction. If so they will get around to listing it for sale as a bank owned property where you can make an offer to the bank for it. To try to figure out who to speak with at the bank that has the mortgage will only be wasting your time. The bank can't sell it to you - they don't own it - yet.
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