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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Risks Of Acquisition, Pre-sale or Post-sale Posted by SeanW on September 17, 2003 at 7:24 PM We've had an influx of questions lately, dealing with all kinds of snaky things sellers can do after a preforeclosure is signed and the cooling off period has ended. Changing thier mind, asking for more money, filing BK, selling to someone else, starting lawsuits, etc. My impression is that the Trustee sale is fairly bulletproof. If you give the trustee the money, you WILL get a deed, for whatever the lender's security was. Of course there are still risks (such as in CA, an unnotified junior staying on title, or an undiscovered partial interest, etc.) Even then, you can probably negotiate your way out of these jams, reduce your losses, and try another deal. They are not emotional, unpredictable, whims-of-the seller risks. It seems to me, that the wall of impartiality that the trustee gives between a 3rd party buyer and the ex-owner is very helpful! Enough so, that the potential big money in preforeclosures, isn't all that tempting to me. Follow Ups: With opportunity comes some risks.. Ward-CA- 7:21 AM, 09/18/03 (0) Post a Followup: Name : E-Mail : Subject : Comments: : We've had an influx of questions lately, dealing with all kinds of snaky things sellers can do after a preforeclosure is signed and the cooling off period has ended. Changing thier mind, asking for more money, filing BK, selling to someone else, starting lawsuits, etc. : My impression is that the Trustee sale is fairly bulletproof. If you give the trustee the money, you WILL get a deed, for whatever the lender's security was. Of course there are still risks (such as in CA, an unnotified junior staying on title, or an undiscovered partial interest, etc.) Even then, you can probably negotiate your way out of these jams, reduce your losses, and try another deal. : They are not emotional, unpredictable, whims-of-the seller risks. It seems to me, that the wall of impartiality that the trustee gives between a 3rd party buyer and the ex-owner is very helpful! Enough so, that the potential big money in preforeclosures, isn't all that tempting to me. 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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