My grandmother is buying a house but she is having some trouble, can u help??

Question

Well she wants to buy this house for sale. She has agreed a sale on the house. However, the people who live in the house presently are bankrupt and the house is due to be repossed by 2 mortgage companies. Apparantly the house is going to be sold at auction, how will she find out when and where the auction is taking place?

Answer 1

I believe that if your grandmother gives these people a purchase offer before it actually goes to auction and they accept her offer the auction can be called off. Have the owners check with the bank. They should tell the bank that they have a buyer already and there is no need for an auction. The bank more than likely will let it be sold and they will take the money. Get a buyer's agent--this is free-- to do the contacting on behalf of your grandmothe,r also. They can advise her. All real estate agencies have agents who will just work with a buyer. That agent gets the commission from the bank ( or whoever is still legally the seller). You should really try contacting someone--the bank, a buyer's agent, or a good real estate lawyer --if she really is serious about buying the house.I would do it asap. I would imagine the bank would be thrilled to sell it outright instead of going through an auction.

Good luck!:)