Owner Deceased, Bank Initiated Forclosure Process

[Matt Giesey]

Hi Everyone,

I've found a pre-forclosure property with minimal liens, and a mortgage well under market value. However, I recently learned the owner passed away a few months ago. The bank has initiated the foreclosure process with the court, and started the timer with public notice. Is there any way for the bank to accept an offer, or ultimately for me to wrap this thing up before auction? The owner was not originally from this area, and has out of state siblings, but no s/o's, children, or parents. Barring any will in place I'm assuming it will have to go through probate court, but would not be surprised if it hits the sheriff's auction before then.

[Roman M.]

1. You can try to buy bank's note and take control over foreclosure case.

2. Bid at the auction

At the end of the day it will have to auction though unless heirs will get title before the sale and can make a deal with you.