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Foreclosure in Wausau : Real Estate Advice

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  • Local Info3
  • Home Buying7
  • Home Selling5
  • Market Conditions0

Activity 3
Thu Feb 23, 2012
Tim Moore answered:
You might be surprised at how an auction works. Often the bank bids what they have out on the house as the opening bid, it is not run like Storage Hunters biding on storage lockers starting at $1. The bank bids what is owed on the house so they can get it back and into their name, as owners, so they can sell it later after they do appraisals and inspections and get the current owner out. Plus they require cash, if he has that much cash he should have made you a loan to make the payments. ... more
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Sun May 2, 2010
Charles Sampson Group answered:
It would depend on what was written in the sales contract. Short sales, even though still owned by the seller, are dependent on the bank to close. Check with your agent to see what was written into the contract.

Good luck.

Angela S. Mullis
Charles Sampson Real Estate Group
Charter I North
Hilton Head Island, SC
... more
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Mon Jun 27, 2011
Deirdre Vanko answered:
Try looking at Harris Real Estate University online they have a course to point you in the right direction. Good luck. Deirdre Vanko
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