Rental Property Investor · Mercer Island, WA · Member since 2008 · 22k+ posts · 14k+ votes
16y
What happens on Saturday? Sounds like the house is already past the foreclosure sale and this former owner is being evicted. If so, he doesn't even own it anymore.
Real Estate Investor · Pembroke Pines, FL · Member since 2010 · 9 posts · 0 votes
16y
You are exactly correct. After speaking with the seller again, I was advised that he is being evicted by the bank.
He was working with, and I quote "A WE BUY HOUSES PERSON" that led him to believe everything was taken care of and they were waiting on some "final ppwk" from the bank regarding the Short Sale. The man stopped calling him about 3 weeks ago and will not return his calls.
Real Estate Investor · Audubon, PA · Member since 2009 · 13k+ posts · 8k+ votes
16y
Your original post said you have a buyer that has been foreclosed?!?! Sounds more like this has become a non-buyer to me; foreclosed people will have a hard time getting financed. If they had cash to buy with, don't you think they would have used it to keep the house they had?
Rental Property Investor · Mercer Island, WA · Member since 2008 · 22k+ posts · 14k+ votes
16y
I assumed you meant seller, not buyer, Daphne. If this person is trying to buy, forget it. And, he can't sell because he doesn't own the place. Next!
This "we buy houses person" he was working with is the sort of person who gives investors a bad name. He was trying to do a short sale. The bank never agreed, which is not uncommon. But he just left this homeowner spinning in the wind. Not good.
Real Estate Investor · Naperville (Chicago), IL · Member since 2010 · 60 posts · 11 votes
16y
Reprehensible... this is someone's home. If you can't help or fail, be upfront. But to not give someone time to find a suitable new place and even possibly pack / store your things? Ugh...
Residential Real Estate Agent · Chandler, AZ · Member since 2009 · 1k+ posts · 928 votes
16y
The only thing I see you can do is leave your card for the REO agent and tell them you are interested in the property. If its in rough shape, you can probably pick it up and do a quick REO wholesale deal or fix and flip.
Real Estate Investor · St. Louis, MO · Member since 2008 · 443 posts · 91 votes
16y
You can find a cash buyer that will buy it if it’s a good deal or you can pay to bring it current. Its way to late to do a shortsale or have the foreclosure stopped unless its brought current or paid in full.