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Foreclosure sales are governed by state laws and mortgage and foreclosure laws vary. First, you could contact the lender and express your interest in purchasing the property to determine what the terms are. You may need to show up at the foreclosure sale and make a bid. You may be able to negotiate a short sale. It may depend on how far the process has progressed. You should arrange to have the title examined to disclose any and all other liens that affect the property. You should contact an attorney beforeyou sign anything related to a foreclosed property.
It is never advisable for an individual to attempt to buy foreclosed property without legal representation.
Wiki User
∙ 12y ago
Wiki User
∙ 14y agoAn easy way to find a foreclosed home would be to use the website GovernmentAuctions.org - they have a large list of foreclosures throughout the United States and you can even define your search to within a few miles of your zip code. There is a foreclosure tutorial on the site as well in case this was your first time on the market for a home or property.
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Can a foreigner buy a property in an auction for foreclosure?
Yes. A person does not have to provide proof of citizenship to purchase real property in the US.
How can a person or group contest a foreclosure of their property?
A person or a group can contest the foreclosure of a piece of property by contacting an attorney. This is the best way to get information about property.
How Foreclosure works?
Foreclosure occurs when a person is unable to make payments on a property. The bank, which owns the rights to your property, can choose to overtake the property and kick you out.
What is a foreclosure under contract?
That means a lender has executed a purchase and sale contract on a property it owns by foreclosure and a sale is pending.
If you have had a foreclosure can you purchase other property later?
Yes you can purchase property. The problem is finding another lender willing to give you a loan that is affordable.
If you paid the delinquent property taxes on another person's property can you own there property?
I would say the answer is no. There could be exceptions for different countries and states. In order to purhase property by paying taxes on another person's property a foreclosure preceding is filed and posted then a purchase can be made at the time the property is offered for sale.
What happens if you default on a loan used to purchase a lot?
If you default on a loan used to purchase a piece of property you usually lose the property through foreclosure.
If lease with option to purchase been foreclosure on what happens?
Sorry, the question is totally unclear. Do you want to buy a foreclosed property that had been lease optioned -OR- is it your lease-optioned property that is in foreclosure? Are you the property owner or are you the person trying to buy it via lease-option? Please re-word the question and re-submit it.
How does foreclosure work?
Foreclosure occurs when a person is unable to make payments on a property. The bank, which owns the rights to your property, can choose to overtake the property and kick you out.
How can I purchase a bank foreclosure?
Foreclosures are a matter of public record, check with the local government in the city you wish to purchase a home to get a listing of homes in foreclosure. This information will include the name of the bank now holding the property, contact the bank and make an appointment to speak to them about the property you are interested in.
How can I purchase a home that is in foreclosure?
Purchasing a home in foreclosure is easy. Contact the agent that has the property listed for the bank, submit and offer, have an inspection and close on the house if your offer is approved.
Is the property at 119 amherst lane in Sebastian Florida in foreclosure?
Is this property in pre-foreclosure or just foreclosure May I please get all the details on this property
