| Name:
bryan
Title of Question:
bank owned |
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Question: If property is bank owned.rnDoes that mean no one wantsrnto purchase. |
Post Your Answer To The Question Above:
Name:
Joel
| Date: July 16, 2008, 10:13 pm
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| Answer:
No... it normally means it has already been foreclosed upon, the owner could no longer pay or come up with a suitable buyer to either take over or even come to a short sale negotiation between the owner, buyer, and finacial institution that the owner used as a price. Bottom line. the bank repossesed the property for whatever reason and now owns the property and is trying to get rid of it before it has to pay too much in taxes to be worth it's while. |
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