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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Equity buyout vs a lender buyout... Posted by Ward-CA- on February 11, 2004 at 7:52 AM In Reply to: Re: Try our two step close instead... posted by Karen on February 09, 2004 at 12:12 AM : Thank you for replying so quickly! To be honest, I have not heard the term "equity buyout" before. Is there any way that you can explain to me the main concepts of this type of transaction, particularly when it comes to actually buying the property from the bank and then selling to a new buyer? ================= Karen, The term "equity buyout" is a more apt description of what is meant when buying from an owner in default, prior to an impending foreclosure auction. The term "preforeclosure" is a misnomer. It intimates buying prior to the beginning of the foreclosure process rather than buying during the foreclosure procedure, but before the auction. Buying the property from a lender would have to occur after a foreclosure auction took place-after the bank received title to the property as a consequence of being the only bidder at the auction. Hope this helps. Follow Ups: Post a Followup: Name : E-Mail : Subject : Comments: : : Thank you for replying so quickly! To be honest, I have not heard the term "equity buyout" before. Is there any way that you can explain to me the main concepts of this type of transaction, particularly when it comes to actually buying the property from the bank and then selling to a new buyer? : ================= : Karen, : The term "equity buyout" is a more apt description of what is meant when buying from an owner in default, prior to an impending foreclosure auction. : The term "preforeclosure" is a misnomer. It intimates buying prior to the beginning of the foreclosure process rather than buying during the foreclosure procedure, but before the auction. : Buying the property from a lender would have to occur after a foreclosure auction took place-after the bank received title to the property as a consequence of being the only bidder at the auction. : : 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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