Profile picture for stacie7184

buying short sale home seen notice saying trustee sale. Can this effect my purchase of home?

  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
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.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
January 12 2012 - Phoenix
We think we've answered this question for you!
  • Be a Good Neighbor. Be respectful and on-topic. No spam or self-promotion! See our Good Neighbor Policy.
 
 

Answers (3)

It can! As you know you are getting a great deal on the home you are buying. This is not without risk. If the seller's agent is doing their job they will be trying to postpone the trustee's sale. You are getting the deal because there is a risk of this not happening and both parties loose. Hang in there it is worth the risk most of the time.
Best of Luck,
Brad
  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
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.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
January 16 2012
It can but hopefully you are working with a good realtor who is staying on top of the situation.  

Susan Lehmkuhl 
Associate Broker
The KUHL Team
Buy and Sell Smart Realty
[contact information and website removed by Zillow moderator]
  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
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.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
January 16 2012
The asset manager of the home you're attempting to purchase appears to be pushing forward with the trustee to complete the foreclosure process. This is necessary due to the legal requirements and delays of filing against the borrower. If the bank cancelled the foreclosure process, and your purchase agreement does not lead to closing and ownership, the bank will be at the starting point with the underwater owner still in the home while not making payments. Continuing the foreclosure process will help motivate the seller to comply with all contract requirements to sell the home. 

Contact your agent and ask them to confirm your contract has been ratified, and the intention of the bank is to work toward closing on the negotiated deal you've made on a purchase agreement. The agent representing the seller can confirm the intentions of both the seller and the bank (short sale department) related to your offer.
  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
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.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
January 14 2012
 
Related Questions
can i get a 3bed / 2bath home with a 107k loan? am I aiming too high?
Profile picture for Jason Watton
Latest answer by Jason Watton
2 days ago | 4 answers
I am looking to buy a home in Phoenix area to rent out, NOT rehab and flip.
Profile picture for Doyle  Davison
Latest answer by Doyle Davison
July 17 | 11 answers
Wanting to buy a home but have issues....
Profile picture for Michael Rizzo
Latest answer by Michael Rizzo
July 17 | 12 answers
HOA Fees
Profile picture for Michael Renick- Team Renick
Latest answer by Michael Renick- Team Renick
June 23 | 3 answers
Mortgage Rates
 
Be A Good Neighbor

Zillow Advice depends on each member to keep it a safe, fun, and positive place. If you see abuse, flag it. More on our Good Neighbor Policy.

Homes for Sale
  1. 12222 N Paradise Village Pkwy S # 322, Phoenix, AZ Home For Sale
    12222 N Paradise Village Pkwy S # 322, Phoenix, AZ 85032

     For Sale: $119,000

    • Beds: 1
    • Sqft: 850
    • Baths: 1.0
    • Lot: 1036
  2. 3407 W Saint John Rd, Phoenix, AZ Home For Sale
    3407 W Saint John Rd, Phoenix, AZ 85053

     For Sale: $154,900

    • Beds: 3
    • Sqft: 1357
    • Baths: 1.75
    • Lot: 8929
  3. 625 E Paradise Ln, Phoenix, AZ Home For Sale
    625 E Paradise Ln, Phoenix, AZ 85022

     For Sale: $419,900

    • Beds: 5
    • Sqft: 3408
    • Baths: 2.5
    • Lot: 12175