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/u/This_action_will
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I have a home that I inherited. It was already approaching foreclosure, then during probate, it went into foreclosure. There is a sheriff's sale scheduled next week. I found a cash buyer because there is no time for real estate (unfortunately.) The cash buyer thinks they can get this through before the sheriff sale, but I have doubts.
My question is would it be better to let the sheriff sale occur? Or would it be better to sign the contract in the hopes that it maybe avoid the sheriff sale?
The cash buyer is offering $40,000 more than is owed. The houses that are comparable in the neighborhood are going for $100,000 more than what is owed. The house requires considerable work but is in a prime location with no homes for sale nearby.
I am wondering, because if I sign the contract and they cannot get the sale to go through, then the house sells at the sheriff's sale for more, I won't be able to receive any of the monies from the sheriff sale over what I've been offered. So complicated.
If any one has any knowledge it would be appreciated. I called the attorney that is finalizing the probate and she is out of town.
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Sheriff sale vs. cash sale question
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My question is would it be better to let the sheriff sale occur? Or would it be better to sign the contract in the hopes that it maybe avoid the sheriff sale?
The cash buyer is offering $40,000 more than is owed. The houses that are comparable in the neighborhood are going for $100,000 more than what is owed. The house requires considerable work but is in a prime location with no homes for sale nearby.
I am wondering, because if I sign the contract and they cannot get the sale to go through, then the house sells at the sheriff's sale for more, I won't be able to receive any of the monies from the sheriff sale over what I've been offered. So complicated.
If any one has any knowledge it would be appreciated. I called the attorney that is finalizing the probate and she is out of town.
submitted by /u/This_action_will
[link] [comments]
Sheriff sale vs. cash sale question
Continue reading...