Profile picture for user3036216

I found my dream house! But here's the problem...it's being sold to someone else. The house is in

The house is in foreclosure and is "under contract" to go to settlement in three weeks.  Do houses that are in foreclosure ever have the settlement fall through? and why?  Should I move on?
  • July 28 2012 - Philadelphia
  • 0
    0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

Be a Good Neighbor. Be respectful and on-topic. No spam or self-promotion! See our Good Neighbor Policy.

 
 

Answers (2)

Profile picture for Cindy Quinton
So to clarify, the house has been through the foreclosure process, was placed on the market, had an acceptable offer placed on it, and is now headed to closing?
 
If so, yes things fall out of escrow for a variety of reasons. People can't get financed, something pops up on the title that takes time to fix, and a host of other factors. But it could also proceed to closing and have people moving into it soon. All you can do is possibly place a backup offer just in case.

We lost our home last year in a tornado, and then unfortuanatly found that we had to work on our credit before buying (after losing a house we wanted badly). Now we have found the perfect house, also an REO. I have heard that there are expected to be as many as TEN offers. We will be heartbroken if we lose it, but all one can do is put in the best offer they can make. I empathize, probably more than I should as a professional, but I know how hard it is to fall for a house and lose it.
  • July 28 2012
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

Profile picture for Ofe Polack
Move on...if it is closing in 3 weeks, the odds are agaisnt you. 
  • July 28 2012
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.