Pre Foreclosure HELP

[Geoffrey Paugam]

So there is a property that goes into foreclosure (auction) May 29th. I have talked to the owner and we came up with a solid price (including debt) Is there a way to get the bank to extend past the 29th or is it just too close. I am a licensed agent also, don’t know if that helps, but we have cash to cover the cost and debt, just trying to hear from anyone that  deals with these situations! 

[Peter Skcin]

Hi Geoffrey, there is a tiny chance they will agree to postpone but you need to contact the lender immediately (bank in this case) and provide the evidence that you are a serious buyer (this can include a signed purchase agreement and proof of funds). Knowing somebody who can speed up the process at the branch would definitely help.