Zillow Advice: Home Buying - HI! How can I find out the bank holding the mortgage on a condo which is short sale and already has http://www.zillow.com/advice-thread/HI-How-can-I-find-out-the-bank-holding-the-mortgage-on-a-condo-which-is-short-sale-and-already-has/405891/ Zillow Advice | Zillow Real Estate If it's a short sale (where ... http://www.zillow.com/advice-thread/HI-How-can-I-find-out-the-bank-holding-the-mortgage-on-a-condo-which-is-short-sale-and-already-has/405891/ If it's a short sale (where the homeowner continues to own the property) then you would have to negotiate with the owners and not the bank. <br/><br/>If it's a foreclosure (where the homeowner no longer owns the property) you will have to wait until it's listed for sale by the real estate agent for the bank. Sat, 02 Jul 2011 02:00:00 GMT http://www.zillow.com/advice-thread/HI-How-can-I-find-out-the-bank-holding-the-mortgage-on-a-condo-which-is-short-sale-and-already-has/405891/ 2011-07-02T02:00:00Z Thanks!&nbsp; We will sit ... http://www.zillow.com/advice-thread/HI-How-can-I-find-out-the-bank-holding-the-mortgage-on-a-condo-which-is-short-sale-and-already-has/405891/ Thanks!&nbsp; We will sit tight for now.&nbsp; Your info was so helpful. Sat, 02 Jul 2011 15:21:00 GMT http://www.zillow.com/advice-thread/HI-How-can-I-find-out-the-bank-holding-the-mortgage-on-a-condo-which-is-short-sale-and-already-has/405891/ 2011-07-02T15:21:00Z Once their transaction is ... http://www.zillow.com/advice-thread/HI-How-can-I-find-out-the-bank-holding-the-mortgage-on-a-condo-which-is-short-sale-and-already-has/405891/ Once their transaction is closed and they have title to the property AND they want to sell, then you could attempt to buy the property from them. However there may be some issues getting a mortgage as some lenders may see this as 'flipping'. Before attempting it, you should check with the company that would be providing the mortgage. Sat, 02 Jul 2011 15:03:00 GMT http://www.zillow.com/advice-thread/HI-How-can-I-find-out-the-bank-holding-the-mortgage-on-a-condo-which-is-short-sale-and-already-has/405891/ 2011-07-02T15:03:00Z I have one more question ... http://www.zillow.com/advice-thread/HI-How-can-I-find-out-the-bank-holding-the-mortgage-on-a-condo-which-is-short-sale-and-already-has/405891/ I have one more question just came to mind.&nbsp; If the current buyer waitng on the short sale gets approved and buys can we make an offer to that buyer? Sat, 02 Jul 2011 13:01:00 GMT http://www.zillow.com/advice-thread/HI-How-can-I-find-out-the-bank-holding-the-mortgage-on-a-condo-which-is-short-sale-and-already-has/405891/ 2011-07-02T13:01:00Z thanks to all.&nbsp; Your ... http://www.zillow.com/advice-thread/HI-How-can-I-find-out-the-bank-holding-the-mortgage-on-a-condo-which-is-short-sale-and-already-has/405891/ thanks to all.&nbsp; Your answers were valuable.&nbsp; we will wait &amp; see then. Sat, 02 Jul 2011 12:56:00 GMT http://www.zillow.com/advice-thread/HI-How-can-I-find-out-the-bank-holding-the-mortgage-on-a-condo-which-is-short-sale-and-already-has/405891/ 2011-07-02T12:56:00Z Since it is a Short Sale ... http://www.zillow.com/advice-thread/HI-How-can-I-find-out-the-bank-holding-the-mortgage-on-a-condo-which-is-short-sale-and-already-has/405891/ Since it is a Short Sale that is already in "P" Pending status then you can NOT go directly to the bank because there is a LEGAL BINDING CONTRACT and unless you want to risk a lawsuit I suggest you wait until the contract falls out; which happens in a high perventage of Short Sales.<br/>&nbsp;&nbsp;Your Realtor can and should set-up a search in the local MLS to send you and them a notification of any change in the listing to keep you advised about the property. Sat, 02 Jul 2011 04:39:00 GMT http://www.zillow.com/advice-thread/HI-How-can-I-find-out-the-bank-holding-the-mortgage-on-a-condo-which-is-short-sale-and-already-has/405891/ 2011-07-02T04:39:00Z Only if the seller was willing ... http://www.zillow.com/advice-thread/HI-How-can-I-find-out-the-bank-holding-the-mortgage-on-a-condo-which-is-short-sale-and-already-has/405891/ Only if the seller was willing to breach their contract with the current buyer (which would have legal consequences for the seller). <br/><br/>If it's a short sale, you wouldn't be able to bypass the homeowners and go to the bank. The banks approval is merely a contingency as they do not have the right to sell the property. Only when a home goes into foreclosure does the ownership pass to the bank. Sat, 02 Jul 2011 03:10:00 GMT http://www.zillow.com/advice-thread/HI-How-can-I-find-out-the-bank-holding-the-mortgage-on-a-condo-which-is-short-sale-and-already-has/405891/ 2011-07-02T03:10:00Z Is it possbile for me to ... http://www.zillow.com/advice-thread/HI-How-can-I-find-out-the-bank-holding-the-mortgage-on-a-condo-which-is-short-sale-and-already-has/405891/ <p>Is it possbile for me to overturn the current pending buyer and make a higher offer to the seller?</p> Sat, 02 Jul 2011 03:04:00 GMT http://www.zillow.com/advice-thread/HI-How-can-I-find-out-the-bank-holding-the-mortgage-on-a-condo-which-is-short-sale-and-already-has/405891/ 2011-07-02T03:04:00Z