2006-11-14 22:04:04 · 3 answers · asked by Anonymous in Business & Finance ➔ Renting & Real Estate
If the foreclosure is finished, as in there is a document from a court that cuts off the prior owner and vests title in someone else, there's no difference in putting it under contract for sale to another person.
If the foreclosure is in process, then the prudent buyer and seller would note the foreclosure in the contract, as that means actions of a third party limits the amount of time each has to perform.
As a Buyer, I would not put up anything more than a token $1 deposit in that case, since the foreclosure being final would basically nullify the contract. The seller would no longer have anything to sell. As seller, I would want to retain the right to sell to any other party that can get to the Closing table first.
2006-11-14 22:11:30 · answer #1 · answered by open4one 7 · 0⤊ 3⤋
Call an agent. Any real estate agent can agent can help you make an offer on a foreclosed property.
2006-11-15 00:53:21 · answer #2 · answered by Anonymous · 1⤊ 0⤋
I agree with bushki, call an agent
2006-11-15 00:54:58 · answer #3 · answered by Adam C 2 · 0⤊ 0⤋