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 You show up at a foreclosure sale with a certified check as required in the notice (usually $5,000 or $10,000), if you want to bid. You can attend any advertised foreclosure auction if you just want to see how it works. If you want to Continue reading How Does A Bidding On A Bank Foreclosure Work? How do I make sure it is not vandalized or suffers frozen pipes while I am waiting for the bank’s response to my offer. Would the seller’s bank be more impressed if I put down a bigger downpayment such as 50% or does that not matter as long as I am pre-qualified? I’m looking to finance a house sometime between now and the fall. I’m interested in a short sale property but I heard these can take over a month to process and see if the bank will approve and all. If I were to put in a bid, and then a month down the Continue reading Is Bidding On A Short Sale A Binding Contract? Will my realtor inform me if someone is outbidding me? Do sensible people stay away from short sales that say “contingent” on the MLS listing? Am I naive to assume I am the only one bidding. I am the first one to make an offer so I hold the primary position. Due to unfortunate circumstances my husband and I had to give up our family home. After trying to sell it, we were unable to in the time we needed to and had to let the home go into foreclosure. Continue reading Home Foreclosure And Where Does The Bidding Start? |
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