Is it possible to buy a house before the auction. The starting bid is 50% below market value. Is it possible to buy at the starting price before the auction happens? Is this how you find the deals. I know of a property about to be auctioned off that I would like to get, would I make the offer to the current owner or to the bank foreclosing?
You have to contact the owner prior to the auction to get permission to speak with their bank and draw up a short sale.
If the opening bid is at 50% of market value this doesn’t sound like a short sale candidate, you need to contact the owner to see if they are willing to sell at an agreeable price.
:cool YES you can buy the house before the sale /// but there are a few things who said the opening bid was going to be 50 % ???AS well how long tell the sale ?? IF less then 30 days you may not have time to do every thing through the owner as they all ways think the foreclouser pixy is comming in the 12 th hour any way YOU need to get papers done with the owner of now as in realse of information so you can talk with the bank about the loan and the owner sure is not going to accept the 50 % iam all most sure of this /// like i said they think the pixy is comming to save them from the big bad foreclouser man //bank
BUT any how good luck on this and hey all ways if you can leave yourself at least 30 days to work on these deals just is smart