Selling A Pre-Foreclosure
Does anyone know of any problems selling a house that was bought as a Pre-Foreclosure back to the people who sold it to us?
The sell was completed without the foreclosure being final.
All mortgages were settled.
Thanks,
Mainstay
We are looking at selling it out right with no owner financing.
I just want to make sure that there is no grounds for me or the buyers, who were in foreclosure, to get into trouble.
Thanks for the reply
Mainstay
Did you get the actual pre-foreclosure documents from the mortgage company?
This would have minimize some of your problems. Without documentation in hand, it is hard to prove your point.
[addsig]
That is what I am assuming also. I just wanted to make sure there were no known problems that you more experienced investors have come across.
Thanks
i see one,
if you purchased the house at a discount and are now trying to sell it back to the sellers at a higher price !!!
if the homeowners complain , the courts may say you took advantage of the sellers.
its RINGS like an illegal sales leaseback.
just my opinion when i first read the post.
unless your selling it back for the same price they sold it to you for??
amynewbie