[masraum]

Originally Posted by icemann427

If it has, indeed, been taken back by the lender during a trustee's sale, then you would just make an offer using the standard form real estate contract used in your state through a real estate broker who represents you. You would purchase the house "free and clear" from any and all liens and encumbrances. This means free from any loans and the prorata real estate taxes would be fully paid by the lender up to your time of purchase prior to transfer to you. Just make sure your offer is subject to clear title. If your offer is accepted (Negotiate! Don't offer their asking price unless you live in a place where it is a pure seller market), you will receive a Preliminary Title Report that shows all of the exceptions to title that come with the house. You will see easements, HOA agreements, and other things. Make sure all taxes or any assessments you do not want to pay are not on the PTR. If you need help reading the PTR, I would be glad to review it for you. I would hire a really good house inspector to go through every inch of the house to make sure it doesn't need any work that might surprise you. You should make sure the utilities are turned on prior to the inspection to make sure everything works as it should.

Thanks, I think that's the situation that this house is in. I don't think this is a foreclosure that would require bidding.