I heard that those big companies “Always Be Closing”…
You mean they don’t?
****sarcasm off ****
4S ranch buyer the only person who can talk to the lender is the seller AND whoever the seller authorizes the lender to talk to. That is, the seller must give the short sale lender authorization, (the term is 3rd party authorization) to discuss the defaulted loan with the anyone besides themselves.
Once 3rd party authorization is granted then that authorized 3rd party (the listing agent) will then be able to discuss the short sale with the short sale lender.
So… as presented above you may want to approach these people, let them know you want to purchase the home, and go from there. They would probably be a little more comfortable procurring an agent on their own.
Put yourself in their shoes… Losing the home, probably have other debt, then someone comes up to them and says, hey I would like to buy your house from you. By the way, here is my agent and he can represent you and us. Now just give a 3rd party authorization letter and let him talk to your lender. Like I said, what we have found with defaults and foreclosures is that the owners of the home feel victimized whether it is their own fault or not, and trying to work things out with them is incredibly challenging. Given the timeframe there is no time for them to find their own agent but give them that carrot.
A more tactful approach may be to to simply go talk with them, run the idea of you purchasing the home from them. Let them know that they can select an agent BUT if you like you have an agent that you can recommend as they interview a few agents but that given the timeframe, it will be unlikely to stall the foreclosure. The risk you run is that if they choose an agent on thier own the agent, (if he/she is good) will advise them to put the home on the open market to fetch a higher price.
Honestly it is pretty much impossible to stall the trustee sale at this point unless the seller themselves calls and puts forth that they have an offer, and are ready to roll. Even with that, given the timeframe I do not see it happening. I mean this has to happen immediately.
What you may want to do is if you are qualified, try to find a hard money lender, and go make the purchase at trustee sale. Go to a title company and pay for a title report and get that done. Go to the house tomorrow and knock on the door and see if you can pay them a couple hundred bucks to get a physical inspector in there in the next 2 days (which will be tough but possible). Once the home is purchased refinance it and payoff the hard money lender.
Whatever you are gonna do you need to move very quickly.
