Profile picture for user6362817

Can I buy a house in foreclosure before it reaches auction?

I prefer not to deal with the stress of an auction. Plus if I get it before auction would it help the homeowners credit.
  • August 30 2013 - Norton
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Answers (5)

if the homeowner is into foreclosure his/her credit has already taken a hit.  As for buying it before an auction it would have to be through a short sale through the actual owner and with agreement with the current investor/lender. 
  • August 31 2013
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If the property is a very important property and you really want it, there are ways to slow down the process making it very difficult for anyone who tries to buy it other than you.
  • August 31 2013
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If the house has a sale date that is 30 days +, in other words if a Notice of intent to accelerate has been sent, and if the current owner is inclined, the house could be put on a short sale. The process of the short sale isn't that fast, and any postponement of the sale date would only be given if the offer has been accepted. As as the auctions are concerned,there are auctions held with zero interest in a particular property. I have heard of auctions being held where there were no buyers in attendance. If you want the home bad enough, the sale itself would be worth going to..
  • August 30 2013
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Profile picture for OlgaRubin
Unfortunately, no. Once it has come to auction, it is too late. 
  • August 30 2013
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Profile picture for Outer Banks N C
no, you can't really. why you ask, well because the only one that could sell it to you is the owner. the bank does not yet own it so they can't sell it. the sale must be for enough to pay off the loan and I bet you won't pay that much for it, so you have to wait. if it was worth enough to pay off the loan the owner would have just sold it.
  • August 30 2013
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