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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Re: Contract to purchase after foreclosure..... Posted by Kristine-CA on May 07, 2010 at 9:30 AM In Reply to: Contract to purchase after foreclosure..... posted by Apex on May 06, 2010 at 11:07 AM Your question isn't clear, as the properties are probably not owned by the same person that holds the notes. So who are you dealing with? The owner? Or the note holder? Did he get a deed in lieu? If you are working with the lender, your purchase agreement isn't worth much, because he doesn't own the property, he owns the notes. You say he wants his money back.....are the loans in default? What's the loan to value ratio? : I am trying to buy some properties that are int eh foreclosure process right now. I was wondering if anybody has heard of entering into a purchase contract on a property in anticipation of it being foreclosed upon? : The properties are owned by a private investor that holds two notes on four properties. He basically wants his money back, but the properites are worthless unless foreclosed upon. : I was thinking that he could have his minimum price at the sheriff's sale be Really high so nobody bidding can get the properties. HE can then take them back then I can buy them immediately from him? : So basically I would have a purchase agreement or agreement to purchase directly after foreclosure is complete. : Comments? Follow Ups: Re: Contract to purchase after foreclosure..... apex 9:55 AM, 05/07/10 (0) Post a Followup: Name : E-Mail : Subject : Comments: : Your question isn't clear, as the properties are probably not owned by the same person that holds the notes. So who are you dealing with? The owner? Or the note holder? Did he get a deed in lieu? : If you are working with the lender, your purchase agreement isn't worth much, because he doesn't own the property, he owns the notes. : You say he wants his money back.....are the loans in default? What's the loan to value ratio? : : : I am trying to buy some properties that are int eh foreclosure process right now. I was wondering if anybody has heard of entering into a purchase contract on a property in anticipation of it being foreclosed upon? : : The properties are owned by a private investor that holds two notes on four properties. He basically wants his money back, but the properites are worthless unless foreclosed upon. : : I was thinking that he could have his minimum price at the sheriff's sale be Really high so nobody bidding can get the properties. HE can then take them back then I can buy them immediately from him? : : So basically I would have a purchase agreement or agreement to purchase directly after foreclosure is complete. : : Comments? [ 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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