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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Good Opportunity Posted by Tom on April 25, 2009 at 11:45 AM In Reply to: Trustee sale advice posted by Dawal on April 24, 2009 at 5:42 PM The house has been probably listed as short sale w/o success. Depending upon the lender you potentially can get it for significantly less (10-15%) at the auction. I'd take advantage of it being listed to view the house inside and make careful notes as to its condition and check out the mechanicals, roof, drainage, etc. You could take a very good home inspector (introduce him as a friend) and have him do an informal inspection. That's the biggest risk you take in buying at foreclosure auction versus the condition of a home inspection. Time is running short and I doubt if the lender would cancel the auction at the 11th hour for other than legal reasons. As you don't know the owner's financial details, bankruptcy is always an option. That said if you really want the house make an offer with the usual caveats and a very healthy deposit (your realtor holds) and hope for the best. At this point in the game a low ball offer won't help your cause (rarely do), so start with your best offer. A few days time isn't long to do your due diligence on finding a great home inspector (or for that matter a great agent or great RE attorney). Follow Ups: Post a Followup: Name : E-Mail : Subject : Comments: : The house has been probably listed as short sale w/o success. Depending upon the lender you potentially can get it for significantly less (10-15%) at the auction. I'd take advantage of it being listed to view the house inside and make careful notes as to its condition and check out the mechanicals, roof, drainage, etc. You could take a very good home inspector (introduce him as a friend) and have him do an informal inspection. That's the biggest risk you take in buying at foreclosure auction versus the condition of a home inspection. : Time is running short and I doubt if the lender would cancel the auction at the 11th hour for other than legal reasons. As you don't know the owner's financial details, bankruptcy is always an option. That said if you really want the house make an offer with the usual caveats and a very healthy deposit (your realtor holds) and hope for the best. At this point in the game a low ball offer won't help your cause (rarely do), so start with your best offer. A few days time isn't long to do your due diligence on finding a great home inspector (or for that matter a great agent or great RE attorney). [ 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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