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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Re: Buying from the owner before the sale. Posted by Ward-CA- on February 18, 2002 at 7:54 AM 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 =•=•=•=•=•=•=•=•=•=•= Kathy, it isn’t possible to buy a property in default from a lender prior to the foreclosure auction because the property owner holds title until it is auctioned off at the trustee’s sale. If you don’t want to risk getting overbid at the auction then you need to try to buy the property from the owner before the sale, not from the lender. Be mindful, that in some states like CA, you'd have to deal with the owner in default with kid gloves if you're just speculating and don't intend to occupy the property yourself. Hope this helps. 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 : =•=•=•=•=•=•=•=•=•=•= : Kathy, it isn’t possible to buy a property in default from a lender prior to the foreclosure auction because the property owner holds title until it is auctioned off at the trustee’s sale. If you don’t want to risk getting overbid at the auction then you need to try to buy the property from the owner before the sale, not from the lender. : Be mindful, that in some states like CA, you'd have to deal with the owner in default with kid gloves if you're just speculating and don't intend to occupy the property yourself. : Hope this helps. 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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