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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Re: Pay Less After Trustee Sale Posted by Bill H on April 27, 2009 at 3:21 PM In Reply to: Re: Pay Less After Trustee Sale posted by Holly on April 27, 2009 at 2:19 PM : : Banks are notorious for turning down a perfectly good SS offer, only to receive far less when they take the property back. If Holly can't stop the FC and is willing to wait until the property is taken back, she can buy it as an REO--probably for less than she's hoping to pay now. : The seller doesn't seem to be interested in "getting real" on making this happen. They countered and we've given them our final offer which I doubt they will take based on their first response. Does it make sense for us to call the people that hold their loan at this point and tell them we are trying to purchase this home? Or will that make any difference at this point? Holly: The problem you are in is that the bank cannot discuss the owners situation with you unless he has executed paperwork, release of information, and the bank has it on file. If you have the funds to wait until the sale then that is of course an alternative. It was my belief from your post that you were going to finance, etc. So; if you have the cash $$$ and the owner is being obstinate, then go to the sale and bid for the property. BUT...by all means be sure you have done all your homework and there is nothing on title that will hurt you. Good Luck, Bill H Follow Ups: Post a Followup: Name : E-Mail : Subject : Comments: : : : Banks are notorious for turning down a perfectly good SS offer, only to receive far less when they take the property back. If Holly can't stop the FC and is willing to wait until the property is taken back, she can buy it as an REO--probably for less than she's hoping to pay now. : : The seller doesn't seem to be interested in "getting real" on making this happen. They countered and we've given them our final offer which I doubt they will take based on their first response. Does it make sense for us to call the people that hold their loan at this point and tell them we are trying to purchase this home? Or will that make any difference at this point? : Holly: : The problem you are in is that the bank cannot discuss the owners situation with you unless he has executed paperwork, release of information, and the bank has it on file. If you have the funds to wait until the sale then that is of course an alternative. It was my belief from your post that you were going to finance, etc. So; if you have the cash $$$ and the owner is being obstinate, then go to the sale and bid for the property. BUT...by all means be sure you have done all your homework and there is nothing on title that will hurt you. : Good Luck, : Bill H [ 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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