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can i buy a preforclosure

  • October 03 2013 - Elizabeth
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Answers (4)

If the owner is willing to sell then yes you can buy the house as a pre foreclosure. That is exactly what most short sales are. If you decide to proceed with buying a pre foreclosure I highly recommend you hire an attorney or experienced Realtor to assist with the process. These deals can be complicated and require experience to get them done. With that in mind they can be done but the process will likely take a few months.
  • October 10 2013
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Not unless the seller lists it as a short sale or the bank actually forecloses on the property.

Thanks
Samuel Rifkin
  • October 10 2013
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Profile picture for CallTheSisters
The reality is many of these homes never go to foreclosure.  Even if you approach a homeowner they may not want to sell or be able to sell.  If it does go through the foreclosure process the bank will buy it back.

Since the home is not being offered for sale - should you go to the property you may be very unhappy with the reaction you receive from the owner.

You are better off searching homes which have already been foreclosed upon.
  • October 06 2013
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The simple answer is yes as the property is still owned by the person who bought it. There certainly can be complications though as the owner may owe more than the house is worth or may not be willing to sell. You may have to do some homework to find out who the owner is and how the foreclosure is being handled. If you have a specific home you are interested in I would contact a local agent who can help you through the process.
  • October 03 2013
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