I rented my home for 2 1/2yrs until it went into foreclosure. A bank bought it at an auction and now wants to put it on the market. I really really want to buy it from them, but they want to evict me 1st and then put it on the market. A real estate suggested an as-is sale. Is this possible, for me to purchase my home without moving out and then moving back in, especially if im paying cash for the house?
Anything is possible. You won’t know until you ask.
Call the bank and ask to speak with someone in Loss Mitigation. It’s their job to minimize the bank’s losses in these situations and having a ready and willing buyer in the home and ready to close is a Loss Mitigation Manager’s wet dream. Unless your offer is totally unrealistic they should agree to sell it to you without moving you out.
2 Responses
Lauren F
2009 Dec 24 1If you are willing to pay a price that they are willing to accept, then sure, it’s possible. All that will happen is that your lease will end and you will become an owner.
The reason they want to have you move out before putting it on the market is that it is much easier for them to sell a house vacant than to sell a house with a tenant in it.
Have a real estate agent do some comps for you (give you a list of comparable properties that have sold recently) and if the price is something you are willing to pay, make an offer to the bank.
the worst thing that could happen is they will say no.
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Bostonian In MO
2009 Dec 24 2Anything is possible. You won’t know until you ask.
Call the bank and ask to speak with someone in Loss Mitigation. It’s their job to minimize the bank’s losses in these situations and having a ready and willing buyer in the home and ready to close is a Loss Mitigation Manager’s wet dream. Unless your offer is totally unrealistic they should agree to sell it to you without moving you out.
References :
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