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at courthouse auction will bank take offer before buyer closes on their property sale?

  • March 14 2013 - Jeffersonville
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Answers (6)

I know at our Sheriff Auctions they have to be paid for same day they do not take contingencies. Generally when a bank buys a property back the bank (or the insurer) places the property with an agent should you should have another shot at it hopefully.
  • March 17 2013
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I can't speak for properties sold at auction, but with bank owned homes, most banks will refuse contracts that include the contingency that the seller has to sell their existing home in order to purchase the bank owned home.
  • March 17 2013
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what i mean is that i have a contract on my house which is to close before 5/15.  at that time i will have the money to close on the auction property, so i would have to make the auction purchase contingent on the closing of my current residence in order to purchase the auction/sheriff sale property.  is that clearer or just more confusing?
  • March 17 2013
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I assume you are asking if one can buy at a couthouse auction and have that purchase contingent upon the closing of an existing contract to sell another property.  If so, the answer is probably not.

  • March 14 2013
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If your asking will the sheriff sale go through before you can get your short sale done then it can happen is the answer. I have had them put off but I have also had them go through with the auction. It depends on timelines, how many times the auction has been put off, whether they believe its a viable offer and a ton of other criteria.
  • March 14 2013
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What do you mean by "before buyer closes on their property"? What property? At the auction the trustee is selling the property.
  • March 14 2013
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