Updated over 8 years ago on . Most recent reply
Need Advice! A short sale is turning to a foreclosure
I have been watching this three unit on the MLS. It was going to be in a short sale. The sellers did not want to show people the building until they went through an eviction. I just got notice today that the sellers did not evict the tenants because they paid some of the rent and they are going to foreclose on the building.
Can I call the sellers bank and try to buy it from them? Do I need to wait for the house to be foreclosed? I am not familiar with auctions and would prefer not to buy a house through an auction. Should we submit an offer to the sellers and put some contingencies in there? What can those contingencies be? We still don't know what kind of repairs the building needs because we haven't been able to inspect the property.
I am not as familiar with making offers to banks or sellers in a short sale. Any advice would be appreciated.