Posts

How Quickly Can You Resell A Foreclosure And Buyer Get Financing?

jllaco profile photo
  • Wednesday, August 17, 2011 @ 10:47 AM EDT
  • 2 Comments
If a friend and I buy a house at the courthouse and the deed is put in his name only, can he turn around and sell the house to me for the actual purchase price and will I be able to get conventional financing with 20% down? Sale would be about 30-60 days out from the courthouse purchase date.

See any gotchas??

Thanks ALL!

[ Edited by jllaco on Date 08/01/2011 ]
  • (2) Comments
  • Score(0)

Comments(0)

  • jllaco
    jllaco1st August, 2011
    0
    Reply

    Could this be considered some type of mortgage fraud?

  • AlenP
    AlenP17th August, 2011
    0
    Reply

    So you want to say that he could resell it easily without any legal issues?

    ------------------------------
    Property Search Agent[ Edited by TheShortSalePro on Date 08/18/2011 ]

Please Sign In to Comment.