Next chance at a condo

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Submitted by werewolf34 on November 4, 2009 - 10:02am

Hi all

I've found a condo I really like and need some advice. This unit is undergoing a short sale that is not going to work out. It has both a 1st and 2nd loan on it.

When will be my next chance to bid for this property?
I cannot pay cash for the unit so I don't think the courthouse auction will work for me?

Also how do I track a property as it works thru the foreclosure process? I have something called an APN (is this the tax parcel number?)

Any advice as to how I can get a jump on the unit early?

‹ Remodelling costs Battiata & Associates ›
If there is a tenant, try to
Submitted by urbanrealtor on November 4, 2009 - 10:55am.

If there is a tenant, try to make friends.

Generally, if the bank takes it, then their Realtor will offer a tenant cash to move out. Once you know who that agent is, you can approach them (independently or with an agent). If you approach them independently then be aware that the bank (the seller) will have most of the players and the referee on their side.