2 weeks away from auction

[Account Closed]

Hi everyone,

I'm meeting a seller to sign all the paperwork to purchase her property tomorrow. The property is in Texas and I've never purchased a pre-foreclosure that is only a couple weeks away from being auctioned off. I'll also be taking this property subject to the existing financing. 

[David Dachtera]

Get with your attorney and make sure that the foreclosing lender is on-board. Guard against "burro-cratic" bungling as much as possible.

There is story around about a house which sold shortly before the auction sale, but lender did not notify the sheriff to withdraw the property from the auction and it was sold again at the auction. The courts had to intervene and nullify the foreclosure sale.

You may even want to send someone to the auction and make sure the auctioneer is aware that property was sold prior to the auction sale. Take (copies of) the paperwork as evidence.