Real Estate Law
Have Real Estate Law Questions? Ask a Real Estate Lawyer.
Hi and welcome to JA. Ray here to help you today.
Yes the REO realtor would set up a buy where the buyer pays for redemption and some amount above that if you have equity here.Using a REO realtor would be the only way to pull this off assuming you cannot finance a redemption yourself.
Time for redemption
(1) Except as otherwise provided in ORS 18.960 (Definitions) to 18.985 (Sheriffs deed), the ability of a judgment debtor to redeem property sold at an execution sale expires unless the judgment debtor redeems the property within 180 days after the date of sale.
(2) Except as provided in subsection (3) of this section, the ability of a lien claimant to redeem property sold at an execution sale expires unless the lien claimant redeems the property within 60 days after the date of sale.
(3) If any lien claimant redeems property within the time provided by subsection (2) of this section, any other lien claimant may redeem the property from the redemptioner. The subsequent redemption must be made within 60 days after the redemption amount specified in ORS 18.966 (Redemption amount payable to purchaser) or 18.967 (Redemption amount payable to redemptioner) is paid to the sheriff. Other lien claimants may thereafter redeem from a preceding redemptioner, in the same manner, as long as each redemption is made within 60 days after the previous redemption. [2005 c.542 §40]
This has to be done quickly here you have 60 days from sale.This would be the best you can do here and would get you something for the house.