What is the process for making an offer on a repossessed house?

Answer by  patti (29325)

Houses are not repossessed; they are foreclosed upon by the lender that holds the mortgage. The lender, upon deciding to sell the property, will list it for sale.

Answer by  rhonda515 (607)

You will first need to determine who holds title to the home and if it has been listed.Often a bank will engage a realtor to list and sell the hoem after it has been repossessed.

Answer by  BranandMike (148)

Check with your local HUD office to find a list of foreclosed homes in your area. When you submit an offer you will have to have prrof of funding.

Answer by  tamarawilhite (17883)

You can make the offer at the foreclosure sale. You can also offer the foreclosing owner enough to cover the debt in a short sale, though the lender has to approve the deal in order for it to close.

Answer by  Devin98 (487)

First you will contact the agent that has the listing. Once you have completed either your own inspection or hired a professional you will then write an offer that will be sent to the mortgage company. These properties are sold 'as is, where is' so it is very important to have the inspectons completed before writing your offer.

Answer by  unni (259)

Shelter is a basic need of human being. . Buyers can be classified into two or three groups. The urban buyer can be gain divided into posh villas and apartments.