QUESTION
Can a property that has been in foreclosure over two years be placed on the market for sale? Have been going to court that long.
Asked on Mar 15th, 2019 on Foreclosures - New York
More details to this question:
According to a family member, that has been trying to sell the house for that long. My mother has no paperwork on this process, but for over two years now (that family member-she still hopes this is not a con) keep saying it is about to close and still nothing. Is there a way to find out who is supposedly buying the property and if not, what is needed to put property on the market. My mother is over 80 years old and this is a four family house for which she would love to get out from under. What could she do? Concerned daughter.
1 ANSWER
1 Award
Not only can it be sold, the bank would love it to be sold. The issue is the value relative to the amount due. If there is equity, then a regular listing with any broker can be done ASAP. If there is no equity, you can do a short sale, or do nothing.
Answered on Mar 18th, 2019 at 6:23 AM