I have exhausted all measures to find the owner of this vacant home. Can I still short sale it with the bank when it goes to sheriff sale? Or what are my other options?
Please explain…
Excel
Some homeowner just don’t want to be found. When I was in foreclosure, I was a ghost.
Once the property goes to sheriff sale and the bank buys it back you have no choice but to wait until they have it listed with a Realtor and it goes back on the market. Until that point the homeowner has to provide you with a letter of authorization allowing you to access the information and account in order to do anything.
I would suggest to either:
One, contact the bank and tell them you are interested in buyer the property and that you are unable to find the homeowner. See if you can work out a price that you can bid to at auction, providing nobody other than the bank rep is there bidding. SEE HERE
Or
Two, find another deal.
Option two would be my choice… There are so many deals out there to do, why waste a lot of energy on hard to find sellers… Just go get one who wants to save their credit and who is willing to jump through your hoops…
Michael Quarles