Will Bank Postpone With Proof Of Funds?
A seller responded to one of my direct mail gadgets today with a foreclosure sales date of Tuesday 02.22.05 (no time I know). An attorney knocked on her door today and wants to buy the house also. She says she will not commit to the attorney without allowing me to counter his offer.
My question is since time is so short will the bank give more time to close if we show proof of funds?
Numbers:
ARV: $180k plus
Repairs: Under $10k
Asking Price: $80k
[ Edited by 205JUNKERScom on Date 02/17/2005 ]
An executed purchase ans sale agreement should do the trick here along with proof of funds to close. However, your seller needs to get off her duff before she loses it. The other option is a chapter 13 bankruptcy filing, but the seller needs to get to an attorney to make it happen in time.