It's very difficult to purchase a house in foreclosure. Someone near to me has made an offer on a house before finding out it was in foreclosure. It gets more difficult. The realtor went on to discover that there are 2 banks holding liens.
Without an accepted offer, my friend has been asked to pay for an appraisal. He's already given his earnest money and set a date of resolve. He has asked for a firm contract, accepted by all parties, within 6 weeks.
There are 2 weeks left on his time schedule and little hope. He and his wife have accepted an offer on their current home and will close in 6 weeks. They may be in crunch time by the middle of July.
It would seem to me that if a house is listed, doesn't sell, a much lower price is established....and then a counter offer to the one offer made....it should already be settled that a contract would be entered into.
I'll let you know how that works out for Ryan.
Til later.
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