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Foreclosure in 34639 : Real Estate Advice

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  • Local Info0
  • Home Buying7
  • Home Selling1
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Activity 6
Tue Aug 17, 2010
John Bennett answered:
You need to offer at near or a little above MARKET- list price something someone dreams up - what you need to do is be near current market price.
0 votes 6 answers Share Flag
Sun May 23, 2010
Ruth and Perry Mistry answered:
Hi Raul:

Right, you will have to start eviction.

When you bought it on the court steps, the home is yours.
However, there is a time lag before the bank lets the previous owner know.

You can always sell it back to them if they qualify for a loan, which most
likely they wont. Unless they have all cash it will be hard for them to get a loan.

Its a good idea to get an eviction service or property manager involved.

Goodluck.
Perry
... more
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Fri May 21, 2010
Michelle Gonzalez answered:
That is one of the pitfalls to buying at the court house. If the previous owners were foreclosed upon, then it is very unlikely they will be have the capability to purchase the house again. If you want them out and they do not leave, then you, new owner may have to go through the eviction process. You may want to offer them some cash to move just to keep the home from possibly being trashed on the way out. ... more
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Tue Mar 30, 2010
Lou Molnar answered:
It is a steal at $85. You risk losing it by going below that price. Get a realtor to represent you through the transaction. It costs you nothing to have professional help.
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Wed May 19, 2010
Joshua Hanoud answered:
Your father wants to buy the home?...or the owners father?

Can you purchase the home?

start looking for another place to live just in case you need it (better safe than sorry)

Call your landlord and try to negotiate a HUGE rent reduction in exchange for you not moving out right away (evidently he's not paying the mortgage with it...and I guarantee he'd rather have a good tenant paying than an empty apartment he's trying to rent with no money coming in)

These are just my random "brainstorming" thoughts...take them with a grain of salt.

if I can be of any further assistance, please don't hesitate to contact me at http://www.HernandoLuxuryHomes.com - I'm happy to help!

Thanks,

-Josh
... more
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Wed May 19, 2010
Deborah Madey answered:
Yes, you still owe rent. The owner of the property remains liable to the lender. Even if the owner is not current on his/her payments, the liability remains. The owner may work out the obligation with the lender thorugh any number of potential options. A short sale may leave the owner still liable to the lender. The owner could restructure his/her loan, enter a repayment plan through bankruptcy, etc. The only reason for you to not make your rent payment is if you lack the ability to do so for a very good reason. ... more
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