If you find a house that the owners have walked away from, can you buy it before it goes into foreclosure? If you’re not 100% confident that you can handle all the legal documents, it’s wise to hire a professional real estate agent. They can find the homeowners and see if they are able to short sale the home to you. Sometimes homeowners walk away because it makes no financial sense to keep paying on the home and are not suffering any financial hardship. The DiMora Team are real estate experts in the Novi and Northville neighborhoods and we know that your Realtor may also ask the homeowners to give back title to the bank (deed-in-lieu) and at the same time tell them there is an interested buyer. This avoids the foreclosure process and allows the bank to sell it to you as an REO. The home still belongs to the homeowners until they give up the title to the bank or title is returned to the bank via the foreclosure process. Therefore you can only purchase from the homeowner until either of these events transpire. Check out below to see what sold in Mystic Forest in November 2015:
43498 Castlewood Drive, Novi: 4 bedrooms, 3.1 bathrooms, 3,278 sq. feet, 2 car garage, Sold Price: $442,500
If you’re smart, you’ll engage the services of a Realtor to represent you immediately. Do not try and to contact the lender or the owners. Your Realtor can and will do that for you. Keep in mind that your Realtor will be working for commission paid by the seller. His or her services will be free to you. For more information on Mystic Forest, or similar Northville or Novi neighborhoods such as Yerkes Manor, Windridge and Deerbrook, contact The DiMora Team today at 248-505-7728 or email@example.com.