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Question about Sheriff Sale for foreclosed homes
Posted on 5/17/16 at 11:42 am
Posted on 5/17/16 at 11:42 am
I offered on a foreclosure in Gonzales at the end of March. The bank countered at a different amount and pulled the counter before I could respond because "they had another offer come in." They then asked for my best offer. I offered over asking and still lost it so I've been keeping tabs on the tax assessor website just to see what it ended up going for.
Fast forward to today and it says the house was sold in a sheriff sale and now owned by the Federal National Mortgage Association. It also said the sale occurred on January 5 of this year. I've since signed a PA for another home so it's no big deal but someone explain to me what happened.
Fast forward to today and it says the house was sold in a sheriff sale and now owned by the Federal National Mortgage Association. It also said the sale occurred on January 5 of this year. I've since signed a PA for another home so it's no big deal but someone explain to me what happened.
7
Posted on 5/17/16 at 11:43 am to dualed
You got undercut by corruption probably.
Posted on 5/17/16 at 11:43 am to dualed
sounds like you got screwed on a backroom deal.
Posted on 5/17/16 at 11:45 am to Napoleon
house will be section 8 by summers end
Posted on 5/17/16 at 11:52 am to dualed
No Vaseline huh
Posted on 5/17/16 at 11:54 am to dualed
You just got Fannie'ed
Posted on 5/17/16 at 11:56 am to dualed
This is just a guess. The sheriff's sale took place on January 5 and there were no one made a bid over the opening asking price. Mortgage company took possession of the home on that date.The mortgage company then put the house for sale. They didn't accept your bid. Just a guess.
Posted on 5/17/16 at 11:57 am to dualed
No one bid against the lien holder. They took it back for cost. You can now go back to them and make an agreement for less since they have already taken the loss and there are no current title issues. The title usually starts new at Sheriff's sale, except for municipal liens, etc.
Posted on 5/17/16 at 5:45 pm to dualed
what happened is the lender bought the house at sheriff's sale in January and they now own it. in march, you made an offer to buy it from the bank. the act of making a counter offer is a rejection of your offer. they then recalled their offer before you could accept. since there was never acceptance of an offer, you never had a deal. obligations, katherine spaht
Posted on 5/17/16 at 7:10 pm to piratedude
quote:
what happened is the lender bought the house at sheriff's sale in January and they now own it. in march, you made an offer to buy it from the bank. the act of making a counter offer is a rejection of your offer. they then recalled their offer before you could accept. since there was never acceptance of an offer, you never had a deal. obligations,quote:
katherine spaht
Is that bitch still at LSU? she had some sort of heart procedure and we all had to sign a get well card and the joke was how could she have a heart problem?
Nice explanation of offer and acceptance
Posted on 5/17/16 at 8:32 pm to piratedude
That's fine and all, but why take it off the market at that point? Regardless of whether they recalled their counteroffer. What could it hurt for them to keep it on the market and continue to negotiate? They obviously still need to sell the property.
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