auction on 12/5 -- too late to buy from owner? - Posted by NW

Real Estate Investing Auctions
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Posted by NW on November 07, 2004 at 20:36:58:

Thanks a lot Navin for your response. I feel encouraged by your response and will try to pursue this property and see what happens.

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auction on 12/5 – too late to buy from owner? - Posted by NW

Posted by NW on November 07, 2004 at 06:46:47:

I just ran across a property that is going to be auctioned off in about 25 days. The loan balance is $160k (property value $300k). Is it too late for me to be able to buy this from the owner? I’m thinking that the owner may be interested in selling this in order spare his credit report from getting ruined any further and to make $10-$20k.

Thanks.

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Re: auction on 12/5 – too late to buy from owner? - Posted by Navin(MA)

Posted by Navin(MA) on November 07, 2004 at 07:14:07:

That should be plenty of time. If u can negotiate, do inspections, and title. The only unknown could be how long the lawyers take to get the arrearage from the bank so that you can reinstate/buyout the loan.
IMHO that is plenty of time. Just do your due diligence thoroughly.
Good luck