If the bank purchases the property back at foreclosure sale, then yes you may immediately contact the attorney who purchased the property for the bank. You may then attempt to give the attorney your contact information to pass along to the bank's asset manager or you may ask for the bank's contact information, as you are pre-qualified and are interested in purchasing the home. However, in most cases this is not a good way to go. The attorney is leery of giving out any information, as well they do want the responsibility of passing your information along. Therefore the easiest way to go; is to have an abstract or title search pulled from the Clerk of Court's records, obtain the mortgage lender's contact information and approach them directly. Absolutely make sure you are pre-qualified to purchase, (be realistic about offer price too) and also be aware the Seller will probably want to pre-qualify you as well. Which will hopefully give them the option of turning a bad loan back into a good loan…
Beware, this property will be coming onto the market. This asset is a black mark on the bank's books and they will want to move it as soon as possible. Your window of opportunity from the time the bank takes it back at foreclosure sale, until the property is listed on the market could be as short as two to three weeks…
For more information please call, 985-867-8670, or email us at marc@mmsre.com.
Thank You
Marc
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