Profile picture for tom beard0

during a foreclosure is the Bank allowed to make deals with a buyer before the f.c. is done

  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.
October 07 2013 - Vicksburg
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 (5)

Profile picture for SteadyState
I am not a Realtor(C) so I do not know the real answer.

But if you borrowed money from the Bank, the bank owns the home and not you ... you own only the piece that your down payment plus what you paid above your monthly mortgage interest payments buys you. They are the owners so they should be allowed to do what they choose fit to protect their investment.
  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.
October 07 2013
I would guess they can make deals on anything they want. They don't own the property but they could be talking to someone that might be interested in in should the bank ever become the owner.  There is nothing the bank could do if they don't become the owner. If you are wondering if you could go to a bank and start negotiations before a property goes to foreclosure, I guess you could but I think you will find it difficult. But you could try I guess. Banks don't usually discuss property they don't own or discuss details with people that are not the owner.
  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.
October 07 2013
Probably not. During the foreclosure process, the bank is getting opinions of value from brokers. They would not know the price to ask without that information. Also, as the foreclosure process is a legal proceeding, it would need to be completed, before it is offered for sale by the bank.
  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.
October 07 2013
If you are asking can you approach the bank and make a deal to purchase the home before they actually foreclosure I'd say the answer is no,

Foreclosure is a legal process.  the owner of the home even though it is in foreclosure is entitled to certain rights.  Since the home owner may be held responsible for any short fall - offering the home for sale to the highest bidder is one of them.  In other words offering it to all interested parties publicly not just one privately.
  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.
October 07 2013
Profile picture for wetdawgs
"make deals"?    Click on "post reply" to share more.
  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.
October 07 2013
 
Related Questions
during a foreclosure is the Bank allowed to make deals with a buyer before the f.c. is done
Profile picture for SteadyState
Latest answer by SteadyState
October 07 2013 | 5 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. 433 Ziegler Ln, Vicksburg, MS Home For Sale
    433 Ziegler Ln, Vicksburg, MS 39180

     For Sale: $75,000

    • Beds: 2
    • Sqft: 900
    • Baths: 1.0
    • Lot: --
  2. 605 Mattingly St, Vicksburg, MS Home For Sale
    605 Mattingly St, Vicksburg, MS 39180

     For Sale: $45,000

    • Beds: 2
    • Sqft: 1010
    • Baths: 1.0
    • Lot: 3049
  3. 112 Singing Hills Cv, Vicksburg, MS Home For Sale
    112 Singing Hills Cv, Vicksburg, MS 39180

     For Sale: $157,000

    • Beds: 3
    • Sqft: 1959
    • Baths: 2.0
    • Lot: 56627