Real Estate Law
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Thank you for the information and your question. If the house is being sold at auction I assume that the lender has foreclosed and it the current owner of the property. In that case, although it is possible that they might take a cash offer at this point before the auction, it is unlikely that they would take anything less than the opening bid they have set for the auction amount. Usually, once they have the property with the auction firm the bank really is not interested in doing any sort of negotiation for the sale of the property. That is why they have it out for auction to begin with. That said, if you know who the current holder of title is, you can always contact them and make a cash offer, at the amount you want to pay, and see what they say. There is nothing wrong with doing that and, depending on the volume of homes they have in foreclosure and their desire to get rid of their inventory, they might entertain and offer and take it out of the auction. Again, not likely, but not impossible. It would have to be a cash offer though, that I can pretty much guarantee.
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