OfflineHelp!!!!!!!!!!!!!
I have found a house that has been included in Bankruptcy & has been vacant since Feb. 2009. It has not been advertised as a foreclosure or listed with a Realtor yet as most houses are in my area once they are foreclosed. What I am trying to accomplish is figure out an approach & way to purchase the property direct from the Bank without it going thru foreclosure or being listed with a Realtor. I have tracked down the previous Owners & have their co-operation if some form of Deed-in-lieu &/or Short Sale may work. When I contacted the Bank with a signed Authorization to Release from both Owners, as usual, the Bank asked for all the usual docs from the Owner for a Short Sale. My concern is that if I tell them prematurely that it was included in BK7 they will tell me that they don’t sell without using a Realtor. In addition, my wife is a Realtor & I even thought about suggesting to the Bank that my wife has a cash Buyer & could list the property if necessary. I need some good advice & a creative idea/ solution to avoid muddying the water so to speak & not to pay more than necessary.
Your advice & help in the situation is & will remain greatly appreciated.
Thanks,
Mr. Win/Win
goldenruleenterprises@****
Never, Never, Never Give Up!
Win/Win Always!
RAJ
Hi there:
It's my limited understanding cause I've only read about it more than I have actually done it, that the bank isn't in much control over the property without permission from the court which has to release it for even the bank. That's why the bank doesn't want people to file bankruptcy because it holds up the property in court. The bank has to ask for it to be released through the process. So, the negotiations needs to include the bankruptcy representative handling it for the court.
In other words, it's in the court's court
Best Regards,
Anita
(Licensed Realtor-Military Vet-9/11Vet)
****
A self-directed realization for 2014 is to:
Live life as if always on vacation and have all the good health, time, & wealth to enjoy it.
Work, only when and IF desired. Helping others do the same. It Pay$ To Connect!
Always In Gratitude.....
Oh yeah,
Kudos for your resourcefulness. Bankruptcy court is a great place to find properties!
Best Regards,
Anita
(Licensed Realtor-Military Vet-9/11Vet)
****
A self-directed realization for 2014 is to:
Live life as if always on vacation and have all the good health, time, & wealth to enjoy it.
Work, only when and IF desired. Helping others do the same. It Pay$ To Connect!
Always In Gratitude.....