Zillow Advice: Home Buying - If a property has been foreclosed is there a way to make an offer directly to the lender?

If a property is too close ...

Wed, 08 Apr 2009 18:32:00 GMT

If a property is too close to the auction date - have a realtor watch the listings - most foreclosed properties will have a realtor assigned within the same day and be available around 30 days after the sherriff auction. Let the lender clear title etc and they may give incentives and special financing to buy the house once they own it.

Are you talking about the ...

Wed, 08 Apr 2009 16:21:00 GMT

Are you talking about the sheriffs auction or the many public auctions of homes that lenders have already acquired and are in the process of liquidating?

If the home has not gone through the sheriffs auction, the lender doesn't own the property. (and you wouldn't want to bid on the house as you may well be buying liens, assessments and other nasty surprises that are attached to the property).

If you are talking about a pubic auction (like REDC) most likely the house was listed by a realtor at some time. Have a Realtor look up the expired listing and contact the agent of record.

Until the auction, the lender ...

Wed, 08 Apr 2009 15:54:00 GMT

Until the auction, the lender doesn't technically "own" the property. You can definitely contact the current owner before the auction and try to work a short sale.