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Can You Buy A Foreclosure With A Contingent Contract?

Posted on June 22nd, 2009 by Kevin McGrath

Can you buy a foreclosure if you have a house to sell? If you need to make the offer contingent on the sale of your current home, will the bank accept your offer?

Short answer is - probably not. Meaning - I have never seen it happen. Banks generally like a clean deal, and most bank addendums seem to have language that discourages this sort of thing.

Not only is that the short answer; it is only today’s answer. Tomorrow could be a whole different ball game. This business changes faster than the flight schedules of a major airline.

Tags: contingent contracts, Foreclosures

This entry was posted on Monday, June 22nd, 2009 at 1:10 pm and is filed under Buying a Home. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.