Buying a duplex that is about to foreclose
Hi. I am currently in contract with a duplex in CA that was built in 1938. Roof and foundations are good. The plumbing seems okay but no inspection yet. The owners are set to foreclosure on Monday, October 28th. We found this out yesterday, we were originally set to close on Nov. 1st.
We haven’t had the time to get quotes from contractors on the extent of work needed to make duplex ready to rent.
Question is, should we close the deal? Another question is if we don’t close escrow on Monday, can we still buy as a foreclosure?
Thanks for reading- very new to this and am looking for any clarity you might have.