How JustAnswer Works:

  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
A new question is answered every 9 seconds

Ask a Real Estate Lawyer

Tina
Tina, Lawyer
Category: General
Satisfied Customers: 5397
Experience:  17 years of legal experience including real estate law.
4460311
Type Your Real Estate Law Question Here...
characters left:
2 Real Estate Lawyers are Online Now

JustAnswer in the News:

 
 
 
Ask-a-doc Web sites: If you've got a quick question, you can try to get an answer from sites that say they have various specialists on hand to give quick answers... Justanswer.com.
JustAnswer.com...has seen a spike since October in legal questions from readers about layoffs, unemployment and severance.
Web sites like justanswer.com/legal
...leave nothing to chance.
Traffic on JustAnswer rose 14 percent...and had nearly 400,000 page views in 30 days...inquiries related to stress, high blood pressure, drinking and heart pain jumped 33 percent.
Tory Johnson, GMA Workplace Contributor, discusses work-from-home jobs, such as JustAnswer in which verified Experts answer people’s questions.
I will tell you that...the things you have to go through to be an Expert are quite rigorous.
 
 
 

What Customers are Saying:

 
 
 
  • Mr. Kaplun clearly had an exceptional understanding of the issue and was able to explain it concisely. I would recommend JustAnswer to anyone. Great service that lives up to its promises! Gary B. Edmond, OK
< Last | Next >
  • Mr. Kaplun clearly had an exceptional understanding of the issue and was able to explain it concisely. I would recommend JustAnswer to anyone. Great service that lives up to its promises! Gary B. Edmond, OK
  • My Expert was fast and seemed to have the answer to my taser question at the tips of her fingers. Communication was excellent. I left feeling confident in her answer. Eric Redwood City, CA
  • I am very pleased with JustAnswer as a place to go for divorce or criminal law knowledge and insight. Michael Wichita, KS
  • PaulMJD helped me with questions I had regarding an urgent legal matter. His answers were excellent. Three H. Houston, TX
  • Anne was extremely helpful. Her information put me in the right direction for action that kept me legal, possible saving me a ton of money in the future. Thank you again, Anne!! Elaine Atlanta, GA
  • It worked great. I had the facts and I presented them to my ex-landlord and she folded and returned my deposit. The 50 bucks I spent with you solved my problem. Tony Apopka, FL
  • Wonderful service, prompt, efficient, and accurate. Couldn't have asked for more. I cannot thank you enough for your help. Mary C. Freshfield, Liverpool, UK
 
 
 

Buying a Foreclosed Property

Individuals contemplating buying a foreclosed property will have many decisions to make throughout the whole process. Uncertainties of foreclosed properties and the process of purchasing them often lead to questions like the ones answered below.

I am interested in buying a foreclosed property. Is it a bidding war type of sale?

At a foreclosure sale the highest bidder gets the property. It is similar to an auction. Most bidders have a good idea of what the market value of the property is before bidding. As an example if a house has a market value of $150,000 and a mortgage balance of $200,000 then a good price for someone to bid would be around $100,000.

If I buy a foreclosed property will I be responsible for the past due HOA fees?

It will depend upon which lender forecloses on the property. If the first mortgage lender forecloses on the property due to lack of payment then the lien put on the property by the HOA will be abolished. However if the HOA puts a lien on the property and then forecloses then you would be responsible for the fees.

My uncle’s house is being foreclosed. Is it considered fraud if I try to purchase this foreclosed property?

The lenders of foreclosed properties require that the transaction be at an “arm’s length”. This meaning that close relatives of the owner of the property being foreclosed cannot get the property. It is in fact illegal if you were to try to purchase the property at the foreclosure price and not notifying the lender of your relationship. You could however contact the lender, disclose your relationship and ask if you could purchase the property at fair market value. That way the purchase price does not reflect any conflict of interest.

The foreclosed house that I would like to purchase at auction still has the owner living in it. If I were to purchase this home what would I have to do to get the mentally impaired owner to leave?

You will need to legally evict the occupants if you are the winner of the auction. In this type of situation this process could take six months or more. The eviction process will add to expenses you would incur purchasing this property. If the occupant is mentally impaired, the eviction could take even longer. A guardian may be required by the court. All of these factors should be considered when deciding whether to make a bid at the auction for a foreclosed property.

I would like to buy my neighbor’s house that is being foreclosed. Is there a way I can buy the house before it goes up for auction?

You would need to make an offer to the lender. If the offer amount is less than the balance of the mortgage it would be considered a short sale. If the lender and the current owner accept your offer then you would be able to purchase the property before it even went to auction.

Having the right information and understanding of buying a foreclosed property can help when dealing with questions regarding foreclosures. Experts can help answer questions about foreclosure auctions or share the process of buying a foreclosed property. Get the answers fast and affordably by asking an Expert online.

Ask a Real Estate Lawyer

Tina
Tina, Lawyer
Category: General
Satisfied Customers: 5397
Experience:  17 years of legal experience including real estate law.
4460311
Type Your Real Estate Law Question Here...
characters left:
2 Real Estate Lawyers are Online Now

How JustAnswer Works:

  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.

Real Estate Lawyers are online & ready to help you now

Tina
Lawyer
Satisfied Customers: 5390
17 years of legal experience including real estate law.
Barrister
Lawyer
Satisfied Customers: 6607
14 years real estate, Realtor. Landlord 24+ years
Dimitry Esquire
Attorney
Satisfied Customers: 5178
JA Mentor, multiple jurisdictions, specialize in business/contract disputes, estate creation & admin

Recent Foreclosed Property Questions

  • Our condo president observed from my front door that my contractor

    Our condo president observed from my front door that my contractor was laying tile on top of the old tile in my hallway and kitchen (a very small area). He insisted that the work stop because there was no soundproofing. My contractor stated the old tile was serving as soundproofing. The work was stopped. I then received a notice from the management company stating (1) the tile would have to be uninstalled; (2) new tile could then be installed (with soundproofing) after proper approval by the management company; (3) the work must be done by a licensed contractor; (4) a permit must be pulled from the city. My contractor (who is also a resident) has been observed in the past by the condo president doing work on multiple units here and has never before been ordered to stop work on any project. What should my next step be?
  • Retaliation against us by property management due to our multiple

    Retaliation against us by property management due to our multiple (over 15) noise complaints against downstairs renter in "familial status" and minority categories. Renter is intentionally letting their children make excessive noise ( as opposed to usual and customary apartment noises) and refuses to take property management's advice to close their windows.
    We have 5 months of written daily logs of the noise, date and time stamped RECORDINGS of the excessive noise (taken from within our apartment with all our windows closed), and 3 police logs verifying that excessive or after-hours noise was observed.
    Property Management has sent us a letter from their law firm telling us that we are no longer to complain about the noise, i.e., call, email or otherwise report the existence of excessive noise. We don't think this is legal and essentially amounts to a type of cease and desist bullying tactic. What can we do? We cannot afford to move to a comparable apartment as to break out lease would cost us $4,000. We cannot afford to move even if our lease was up. Please advise.
  • When a real estate property is sold at tax deed sale and

    When a real estate property is sold at tax deed sale and their is surplus that surplus is due to the original owner. If the original owner is a company that is not inactive with the state can that company still claim the funds without reinstating with
    the state?
< Last | Next >
View More Real Estate Law Questions