看到一个Listing, it is foreclosure single family house. Previous owner didn''t pay his mortgage, His house got foreclosed. Right now the title is with the lender, the listing agent says: It''s already foreclosed. The title is already under our lender''s name. Per the MLS: Drive by only. The house is under eviction. I heard the foreclosure can take half a year or even longer, because lender has to approve it for the contract the previous owner can do some damage to the property inside, nobody know. there is risk associated with the foreclosure property. the property listed as more than 1 million, but if there is eviction going on and it is foreclosure house, the listing has been on the market for more than 40 days. it is in a seller market area. for this kind of property, do you guys have any good suggestions? Is there anything need to pay attention to for the mortgage application? thank you in advance.
Sounds like a REO. No difference to the buyer. "Is a REO the same as a foreclosure? An REO (Real Estate Owned) property, also referred to as a bank-owned property, has already gone through the foreclosure process and the mortgage lender or bank has taken ownership of it as a result of a failed foreclosure sale in an auction. The bank becomes the owner of the property."
Sounds like a REO. No difference to the buyer. "Is a REO the same as a foreclosure? An REO (Real Estate Owned) property, also referred to as a bank-owned property, has already gone through the foreclosure process and the mortgage lender or bank has taken ownership of it as a result of a failed foreclosure sale in an auction. The bank becomes the owner of the property." JohnChan 发表于 2022-01-11 00:59
Previous owner didn''t pay his mortgage, His house got foreclosed. Right now the title is with the lender, the listing agent says: It''s already foreclosed. The title is already under our lender''s name.
Per the MLS: Drive by only. The house is under eviction.
I heard the foreclosure can take half a year or even longer, because lender has to approve it for the contract
the previous owner can do some damage to the property inside, nobody know. there is risk associated with the foreclosure property.
the property listed as more than 1 million, but if there is eviction going on and it is foreclosure house, the listing has been on the market for more than 40 days.
it is in a seller market area.
for this kind of property, do you guys have any good suggestions? Is there anything need to pay attention to for the mortgage application?
thank you in advance.
lz不是新手的话可能可以试试
"Is a REO the same as a foreclosure? An REO (Real Estate Owned) property, also referred to as a bank-owned property, has already gone through the foreclosure process and the mortgage lender or bank has taken ownership of it as a result of a failed foreclosure sale in an auction. The bank becomes the owner of the property."
对的 这种已经foreclosed了
有道理 不然会后续有麻烦