Rent Your Home Back After Foreclosure
Rent with Option to Buy Back:
Under certain circumstances, the homeowners in foreclosure
- May be able to lease their home back after the Foreclosure Auction at a fair market rent from the successful bidder.
- May receive an Option to Purchase their home at a fair market value during the term of the lease.
Qualifications for Lease/Option Program:
- Homeowners must demonstrate financial capability to afford a fair market rent.
- Foreclosure Plaintiff must have a good Foreclosure Auction bidding history.
Foreclosure Auctions are open to the general public. These auctions are conducted by a Sheriff’s Office or an Auction Company. All bidding is done verbally at the time and location of the auction, which is generally not held at the home being auctioned. Because Foreclosure Auctions are open to the public, the results cannot be guaranteed prior to the actual Auction.
When consulting with you to determine if this is a good option, we’ll look at the bidding history of the plaintiff, estimate the maximum bid of other investors attending the auction, and determine the probability of this auction strategy succeeding for the homeowner.
It is essential the homeowner begins this strategy before the Foreclosure Auction. The sooner, the better. It is unlikely the strategy would be successful if started after the Auction.
Call The Rogers Law Group to schedule a free consultation for the Auction Strategy.
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