After Auction
All foreclosure gurus, how can the home owner sell his property after the auction ? Amazing never heard it before, I thought after nobody bits the property then it will be REO, Please need help ASAP.
All foreclosure gurus, how can the home owner sell his property after the auction ? Amazing never heard it before, I thought after nobody bits the property then it will be REO, Please need help ASAP.
Hi bargain76, thanks for your reply.
I believe GA does not have a redemption period.
maybe, right after the sale, the homeowner bought it back from the bank with arrangements to sell it.
no although see if you can get the arrears paid, maybe a 3rd party and offer them some interest in the property. have any credit card open
Hard money might be able to help you but the best bet woud be private money. Offer someone 10% interest on the money and let them hold a mortgage. Get the payments caught up and take over the property subject-to. Just make sure you have the money for the payments. Your best bet is to get the loan current before the sale.
Thanks for the replies. The owner is willing to let the sheriffs sale happen and sell to me during the redemption period. I have a PA and am closing Sept 1st.
Thanks again
Yes, once the foreclosure has been completed the lender (owner) can sell the property for whatever they can get.
With respect to your neighbor I would say that the version of the story you are getting is highly skewed.