Posted by Jonathan Rexford on September 21, 2004 at 15:59:27:
One week before the sale has been done and it can be posponed (if that is the spelling. Not a big deal if you are buying because of redemption only happens if the sale proceeds.
Please Help!!! - Posted by Eddie-MI
Posted by Eddie-MI on September 13, 2004 at 02:44:41:
I’m pretty much a Newbie and I may be on the wrong site, but does anyone here know if banks will work with you on a short sale to accept less than what’s owed after the home actually goes to the sheriff sale, but isn’t bought by anyone?
During the sellers 6 month redemption period, will the banks still consider short sale offers or are all payoff negotiations cancelled once the home goes to the county steps?
I have a deal now that is 1 week away from sheriff sale, and the seller is highly motoviated to sell because she owes more than the homes worth, but will the bank even work with me to create some equity being that it’s so close to the sheriff sale date?
It would really save me a lot of time and the homeowner a lot of false hope if someone could advise me on this.
Thanks in advance,
Eddie