CAN A HOMEOWNER SELL THEY’RE HOME TO AN INVESTOR FOR $100K EVEN THOUGH THEY OWE $185K AND THE PROPERTY IS GOING TO AUCTION ON NOV 13TH…IS THIS POSSIBLE OR DO I HAVE TO DO A SHORT SALE…
Yes and no what state the buyer can purchase but lien stays in place
I am in AZ…They are paying $1514mnth plus $150 hoa…They were screwed on this loan…Mind you this is a 929sqf condo…2bd 2ba condo conversion downtown phx…So I would have to do a subject to…But to be honest that wouldnt be a great idea because the of the loan balance and payment…ADVISE ON WHAT TO DO PLEASE!!!
You would really need to do a short sale if you want to be purchasing the house from them. Check your state laws also because some states (like NY) penalize investors for purchasing a property whose loan is in default. Good luck!!