Community Questions
Community Question: Non-Profit Purchases
Question John asks this question. There is a foreclosed property that appears to have been foreclosed on November 16th. What will happen with such a property? We are a non-profit organization working to save this neighborhood and would like to have an opportunity to buy it. How should we proceed? This is a general question, […]
Community Question: Listing Homes for Banks
Mike, Benard and Marteina are real estate agents and have submitted questions about listing homes for banks. Each questioned suggested a certain local area or bank that the real estate agent would like to work with to list properties. We’ll address these questions in this post about how real estate agents go about listing homes […]
Community Question: Banks selling directly
Deysi has a question for The Bank Foreclosure Guide. Deysi asks “do banks sell homes directly when someone fails to make their payments?” Below we will attempt to answer this popular question. Banks generally do not sell their foreclosures directly. As a buyer, you have to purchase in the manner the bank seller has directed. […]
Community Question: Renting Foreclosures
Readers of The Bank Foreclosure Guide website are welcome to submit questions to be answered on the site. Victoria asks: “is it possible to rent a bank owned foreclosure property?” Renting foreclosures is not typical. Generally, when a bank takes ownership of a home through foreclosure they are going to sell it to clear it […]
Community Questions: Pre-Market Purchases
Theresa asks: “Is it possible to buy a foreclosed home directly from the bank before it goes to auction?” This depends. Each bank handles properties differently but it is unlikely that a bank would ever sell a property to an individual prior to it going on market, through auction or other similar process. Banks use […]
Community Questions: Pre-foreclosures
A reader of The Bank Foreclosure Guide site ask: “If a home is pre-foreclosure, how can we see the home, and/or make a bid on the home? I am a real estate agent that one of my regular customers has asked about. “ Basically, the answer is the only person that can agree to showing […]
Community Questions: Foreclosure papers filed
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 […]
Community Questions: Renting a foreclosure
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.