La Grange, TX · Member since 2015 · 14 posts · 1 vote
First Time home buyer
Looking at a house that has been foreclosed.
The owner died in Jan
No living relatives
Notice on door says "First Time vacant"
Number listed is a wells fargo. Is this a REO at this point?
Word is that there will be a sheriff sale Sept 1
It is not on the REO website
The paperwork shows loan was 95k in 2012
What stage would this be called?
I guess my question is does it have to go through the process of not selling at Sheriff Sale to become a REO? Should I wait it out, or is it possible to buy before the Sheriff Sale?
I have went to the clerks office and did research I see no liens .. Also I do have financing in place but not cash as of yet..
If the foreclosure was cancelled then the bank dues not own it yet necessarily. Most likely the heirs could have worked out an agreement to give then a few more months to sell or pay up. Or the heirs could have deeded it over to the bank. Its a long shot but i would start by finding who inherited it, who the executor is, and try to contact them...direct mail, phone call, ect. You might see this property back on the foreclosed list in a month or two also.
Yeah the only family member I tracked down was in Deleware. The long lost brother.. he told me there was no other relatives and he was not interested, as they were not close for most of their lives. Im pretty sure there is no other family trying to pull this out..