Motion of Substitute Purchaser Process for Foreclosed Property

[Arthur C.]

Does anyone here in the forum know much about how long it usually takes for a real estate attorney to get a court approval from foreclosure trustee and the Superior Court after filing a Motion to Substitute Purchaser?

I’m basically trying to purchase a foreclosed property in DC from Seller who won it from the auction. He claimed that his attorney said it would take up to three weeks to get court approval after the filing. I have my suspicion that is not true since it is my understanding that foreclosure process is typically pretty slow especially when it comes to Superior Court. Three weeks lead time I think is too optimistic. This is somewhat a big concern for me since there are accrued interests associated with the auction that I will be responsible paying at settlement based on terms Seller proposed.

If anyone here has experience or knowledge about that process, please do kindly chime in. I’d greatly appreciate any inputs you bring here.

AC

[Tom Gimer]

Nobody is going to consent to your assignment. The foreclosed owner has no interest in the property anymore and the bank doesn't care who the deed is to as long as they get their money. The Trustees cannot convey to anyone other than the high bidder unless you obtain that Order.

What could cause a delay? The owner could file an objection or motion to set aside the sale... or there could be a procedural issue with the foreclosure itself.