I know that the owner has up to 3 years to redeem himself and get his property back, but I was wondering if he could still live in 1 side, rent the other side out and collect the rent?
I bought a property during a Tax Sale Auction. The person who lost it lives in one side and rents the other side out. He has 3 years to buy it back from me. Can he collect rent money from whoever he has renting it out or should I be receiving the rent money?
I found a wonderful property but it is now a short sale situation and I have to sell my current home in order to buy it. I was told that a offer contingent upon the sale of my current residence would not be accepted. Are there any other options?
I read somewhere that it may be illegal for the seller and buyer of a short sale to be blood-related. The mortgage bank won’t allow this. However, if the tenant (who is not a relative) wants to buy it, would this be permissible? This is in Jersey City, New Jersey.
We have been trying to purchase a home for the last 5 months. We are being told by the seller’s realtor that the seller’s mortgage company is not responding to their repeated attempts to finish the closing deal. The seller’s realtor is faxing the paperwork 2 times a day, calling and getting the run around, etc and getting nowhere with the company. Two weeks ago the mortgage company did respond and said they were missing a form from the realty company, which has now been completed and still no response. Are there possible reasons why this mortgage company is not responding? What do they have to gain by not following through with the sale?
In response to the posting that said I was being misleading. Yes, this house buying process has had many roadbumps–too many to include in this 1 post w/the amount of space I am allowed. Many of the issues I had previously posted had been resolved (or so I was informed); The Lis Pendens (we were informed by the seller’s realtor that it had been negotiated off); the sellers did owe $ over what they accepted on our house offer (we were told that they negotiated w/ their mortgage), possible foreclosure in progress (we were assured by the realty company that they had not received any notice that a foreclosure was in sight). That being said, these last few weeks what we have been told was that it was the lack of communication back from the mortgage co. that was creating the roadblock, not any previous issues. When I posted this question, I was merely trying to ascertain if there was a reason a mortgage co. would delay the closing (possible shady company?); Thanks to those who answered.
Can a lawyer and the administrator sell some property in a private sale and some in a auction that belong to a decedent , the property that were owed on, they auction off , the property that were paid for , they sold at a private sale why didn’t they auction all of it off at one time, Seems like to me the more people looking at the property the more it will bring.
I’m looking for a home to buy and I wanna live there. I know that some websites provide bank owned homes 50% below market value… where can I find these houses, and anyone knows what is the best source to find these real estate homes?
I bought a house a couple of years ago. I don’t have much equity in it. Now my fiance and I want to buy a new home, but we won’t be able to sell my home for what is owed on the mortgage. Are there programs that let you borrow on your new mortgage to allow you to pay off previous mortgage?
Our Realtor has worked very hard to get our house sold. But, because of the weak market we had to sell well below market value, and she is not going to make a lot of money off the sale. I am trying to think of a creative way to thank her for her efforts. Unfortunately, we do not have a lot of money to spend. Any ideas?