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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Re: buying out right Posted by scott on February 17, 2002 at 8:41 PM In Reply to: buying out right posted by Kathy on February 17, 2002 at 7:50 PM : HI. Is it possible to contact the lawyers representing the mortgage company and make an offer to them before a house goes up for foreclosure auction? I am really interested in this house and am willing to pay much more than what it still owed on it. I don't want to risk losing it in an auction and didn't know if this is an option. : Thank you At this point in the process, you would need to negotiate witht the listed owners of the property. Until the foreclosure happens, you are in the "preforeclosure" stage of the process. You can make the owners an offer, and close on it like you would any other purchase. Your purchase contract would likely include paying off the existing mortgage plus any penalties, etc. If you do not have enough time to contact the owners and close a deal before the foreclosure date, then your next stop is the court house steps. Good luck! Follow Ups: Post a Followup: Name : E-Mail : Subject : Comments: : : HI. Is it possible to contact the lawyers representing the mortgage company and make an offer to them before a house goes up for foreclosure auction? I am really interested in this house and am willing to pay much more than what it still owed on it. I don't want to risk losing it in an auction and didn't know if this is an option. : : Thank you : At this point in the process, you would need to negotiate witht the listed owners of the property. Until the foreclosure happens, you are in the "preforeclosure" stage of the process. You can make the owners an offer, and close on it like you would any other purchase. Your purchase contract would likely include paying off the existing mortgage plus any penalties, etc. If you do not have enough time to contact the owners and close a deal before the foreclosure date, then your next stop is the court house steps. Good luck! Optional Link URL: Link Title: Optional Image URL: [ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] WWWAdmin 2.0a © 1997 Matt Wright and DBasics Software Company, All Rights Reserved

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