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Barrister
Barrister, Lawyer
Category: Real Estate Law
Satisfied Customers: 33802
Experience:  15 years real estate, Realtor. Landlord 26 years
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My home was auctioned of on 7/11/2016 but no one bought it

Customer Question

my home was auctioned of on 7/11/2016 but no one bought it and the bank bought it back. is it possible for me to by it back from the bank even though they have it listed on the web for sale? this is in long island ,ny
Submitted: 2 months ago.
Category: Real Estate Law
Expert:  Barrister replied 2 months ago.

Hello and welcome! My name is ***** ***** I am a licensed attorney who will try my very best to help with your situation or get you to someone who can. There may be a slight delay in my responses as I research statutes or ordinances and type out an answer or reply,but rest assured, I am working on your question.

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There is nothing that would legally prevent the bank from selling it back to you. But you would have to qualify for financing through another bank or some other lender to finance it unless you had the money to pay cash.

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However, it is kind of unlikely that they would do so unless you paid off any deficiency if it didn't sell for enough to pay off the mortgage.

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thanks

Barrister

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