QUESTION: Keith asks….I want to buy a house you have filed foreclosure papers on. What is the procedure? ANSWER: Thanks for your question. Unfortunately, we at The Bank Foreclosure Guide don’t foreclosure on any homes. We are merely an information resource for people looking for information about buying foreclosed properties. So, step one will be […]
Can you rent a foreclosure? This depends on many factors, primarily if you already have a lease in place when the home is foreclosed. Generally, banks do not rent foreclosures. Read more about renting foreclosures in this community question.
QUESTION: I purchased a property on a simple two sentence document both signed with a witness and he would not turn the house over to me. It took about 18 months for that to happen and when he finally took me to court, he took me to renters court . This of course was proved […]
Auction! Going, going, GONE!! Auctions have come a long way! In today’s internet-saturated world, you can bid and buy a foreclosed home online in a few clicks. Buyer beware, however, as the deals are as good as the time spent researching the property. Many foreclosures are now being sold via auction in a format known […]
Sales of foreclosed homes involve more parties than a traditional real estate transaction. Let’s take a look at the most simple of real estate transactions. If you were buying a friends home, there would be two individuals involved in the sale: you (the buyer) and your friend (the seller). You would negotiate a price and […]
Isn’t an Asset Manager the person you use to help manage your money? Well, not in the foreclosure business. An asset management company in the foreclosure business is a company that the owner of the foreclosed property hires to basically do all the work in selling a foreclosed asset. The asset management company is a […]
Zombie foreclosures…no, these are not foreclosed homes where the undead live. Zombie foreclosures are homes that the former owner has vacated but the bank has not yet taken title. Often, the former homeowner does not even know they still own the property. Until the bank completes the foreclosure, the homeowner definitely does still own the […]