Posted on: 16th Dec, 2013 11:55 pm
Hello there... My parents will get divorced recently. The property will be short sold. I have a lot of memories in that house. I can afford the home. Will it be possible for me to buy the house during the short sale auction?
Short sale has to be an arm's length transaction. So, there should not be any personal relationship between the buyer and the seller. So, you may not be able to buy that property.
Are you paying cash or do you need a mortgage?
If you need a mortgage, we can do non arm's length transaction. Please note, rates are going to be higher than advertised rates. feel free to contact us at 800 315 8803.
Yeah I too feel that you won't be able to buy a short sale house when you're so personally related to the seller of the house.