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Updated over 4 years ago on . Most recent reply

User Stats

109
Posts
27
Votes
Edward R.
  • Real Estate Investor
  • La Fayette, NY
27
Votes |
109
Posts

buying a foreclosure sale that's been suspended during COVID

Edward R.
  • Real Estate Investor
  • La Fayette, NY
Posted

HI! I've bought a few properties over the years, Foreclosures and have done the "courthouse steps" sale due to foreclosure. There is a house I'm eyeing and I knew the person living there (LEft due to spouse issues and starting anew) House is a great lot, good condition and for the right price would make a great flip or other investments. Contacted lawyer representing the bank as to if it sold at the courthouse in May,; answer was "no due to FHA moratorium till years end"

Are there other methods to try and buy the house like short sale?  Or is the only way to wait for forclosure sale at courthouse (which it could be bought back from bank because I haven't figured what their minimum price "could" be.   I likely could get the former owner work out an arrangement (moved out 6 months ago, service BlackKnight company closed up house)  

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