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Updated about 4 years ago on . Most recent reply

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Jesus Valdez
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Pre-foreclosure under contract but auction is in 3 days. Help

Jesus Valdez
Posted

Hey guys. We have a pre foreclosure deal in AZ under contract for 120K she owes 93K. The property is supposed to go to auction in 3 days. She needs to pay the lender 11K to stop the auction. I have 11K to stop it but I am concerned that after paying the 11k there is nothing to stop the owner from backing out of the deal and breaking my contract. Is there anyway to make sure the deal goes through after I've paid that money? Any advice would be helpful. 

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Tom Gimer
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Tom Gimer
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Replied

With 3 days to the sale you'll need to deal directly with the foreclosing attorneys or trustees. They've spent money advertising the auction sale and are only going to cancel with a hard contract.

I would never pay the arrears.

  • Tom Gimer
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Gimer Law

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