Who do I make an offer to?

Question

There is a townhouse in my area that nobody has lived in for about a year. I am interested in making an offer on it, so I did some research. I found out that U.S. Bank is in the process of foreclosing the property, and I found out the name of the owner. This property does not show up in the county's list of properties to be sold at auction in the next 90 days, so I'd like to know who can I contact to make a cash offer on this property.

Any information regarding this would be greatly appreciated.

Account Closed · Answer

You make the offer to the owner. If the property is part of a probate estate, you make the offer to the executor. If the property is in bankruptcy, you make the offer to the owner and get permission (in writing) from the judge to complete the sale. If the owner is "incapacitated" you make the offer to the Power of Attorney.

If you open a title report with a title company, you will see if any of the previous conditions are active.

Also, The owner may be military and may be deployed. Knock on the doors of the neighbors and see if they know what is going on with the owner.

Chad U. · Answer

If the mortgage is held by US Bank, then likely not much you can do as they will just carry out the FC.  If the borrower is under water on the loan, then there may be a chance you can get a SS done but will need to convince the owner to work with you on this.

Lou Veres · Answer

Thanks Mike, I'll try to find the contact info for the owner. It's an older lady that moved out after her husband passed away. She is the Defendant in the Foreclosure case.