Buying a foreclosure after sheriffs sale date is scheduled

[Matt Merriott]

Ive tried to search the forums but have not found an answer I was looking for. 

Found a house that has been foreclosed and is listed on the county record for auction 4/3. At this point is it possible to purchase prior to the sale date or is it too late and I will need to show up at the auction and bid? 

[Kevin Sobilo]

@Matt Merriott, it absolutely is possible (in my state at least) to buy the property at this point before the sale. I just did EXACTLY this several weeks ago.

I had been working a deal which was an estate that the heirs had not taken control over and the house was going into foreclosure. By the time we got things moving the sheriffs auction was scheduled. We closed the sale about 7 days before the auction. I made sure the closing agent notified the sheriff so they would make sure to remove it from the sale and avoid any messiness that might cause.

So, if you can find the owner and make a deal work. It is possible. Keep in mind the mortgage balance to be paid has likely jumped up with the fees and foreclosure costs that the lender has tacked on as it has progressed towards the sheriffs auction, but if you can make the numbers work you can do it.

[Matt Merriott]

Quote from @Kevin Sobilo:

@Matt Merriott, it absolutely is possible (in my state at least) to buy the property at this point before the sale. I just did EXACTLY this several weeks ago.

I had been working a deal which was an estate that the heirs had not taken control over and the house was going into foreclosure. By the time we got things moving the sheriffs auction was scheduled. We closed the sale about 7 days before the auction. I made sure the closing agent notified the sheriff so they would make sure to remove it from the sale and avoid any messiness that might cause.

So, if you can find the owner and make a deal work. It is possible. Keep in mind the mortgage balance to be paid has likely jumped up with the fees and foreclosure costs that the lender has tacked on as it has progressed towards the sheriffs auction, but if you can make the numbers work you can do it.

 @Kevin Sobilo Awsome! thank you for the response!

[Eliott Elias]

If it is listed to be sold at the auction the property has not foreclosed. You still have a opportunity to buy it from the seller directly, make sure you know your states laws when buying tax delinquent property.